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The day I found out my broker was front-running my orders, 14 years in
I had been with the same brokerage since 2010, never questioned a thing. Then last Tuesday I noticed a fill price on a municipal bond deal that was way off from the quoted market, like 40 basis points. I called the desk and they stumbled through an explanation, and I realized they had been routing my trades through their own inventory first. I felt stupid for not catching it sooner, and now I am wondering, has anyone else checked their execution reports for this kind of behavior?
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