Ann: Nueva Esperanza Project - EIA Approved, page-72

Thanks DanB.
I don’t know how the front running happens, but it does.

Recall Cowbell’s method of submitting his buy orders with a limit price a cent or two above the parcel of shares he was wanting to buy, which worked (don’t think he was ever frontrun using this method). I am guessing the one algorithmic code behind the dummy sale trade would look for buy trades targeting it by referencing the nominal, limit price fields etc (via the swift perhaps?) and amend those parameters on the dummy sell order before it could be bought. I’m speculating here, but the sort of trading strategy or scenario event Cowbell used to beat the algorithm could easily be overlooked by whoever wrote the code.