ACI Dealing Certificate Practice Questions - ACI Financial Markets Association Dealing Certificate Exam

When a dealer uses confidential client order info to place trades for the bank's proprietary account to guarantee a profit. When a liquidity provider acts as principal, behaves transparently, and executes trades to manage the risk of a prospective client order, without disadvantaging the client. At any time, provided the dealer does not disclose the pre-hedging activities to the client under any circumstances. Only when the client explicitly requests that the bank front-run their order in the open market to drive the price up.