layering; spoofing
Finance term for a market manipulation tactic: placing large orders with no intention of execution, then cancelling them to create a false impression of supply or demand. Similar to 見せ板 (みせいた).
See also: 見せ板 (みせいた)
Layering is prohibited under the Financial Instruments and Exchange Act.
証券会社が見せ玉を行ったとして処分を受けた。
The securities firm was sanctioned for engaging in spoofing.
Compound of 見せ (mise, 'showing') + 玉 (gyoku, 'ball' or 'piece'), literally 'show piece'. The term likely originated in Japanese financial markets to describe fake orders displayed to deceive other traders.