I can&#x27;t believe the article in the comment above made it on to Bloomberg View. It uses a completely incorrect definition of front-running - claiming it is a &quot;loose&quot; term. It isn&#x27;t. Front running is illegal. It requires advanced knowledge of a customer order (as the definition linked from the article states!) That means seeing the order before it appears on a market data feed. &quot;Gleaning&quot; information about the order using publicly available information is not front-running. That is reacting to the market.<p>This abuse of the term completely confuses the entire debate.