DEFINITION of 'SOES Bandits'

A slang term for traders who make rapid buy and sell orders, using the SOES system, in order to make a profit from small price changes.

BREAKING DOWN 'SOES Bandits'

Since the SOES executes orders of 1000 shares or less immediately, an SOES bandit has a greater chance of profiting since the bid-ask spread is tight and prices are extremely accurate.

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