Cryptic crossword clue
Matches making spectator run excitedly 12

The most common and most likely answer to this crossword clue is the 12 letter word COUNTERPARTS

I've seen this crossword clue in Financial Times
C
O
U
N
T
E
R
P
A
R
T
S

Buddy explains!

The straight part
We know that "Matches" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case matches = counterparts.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does COUNTERPARTS mean?

COUNTERPARTS noun
  1. Either of two parts that fit together, or complement one another.
  2. A duplicate of a legal document.
  3. One which resembles another
  4. One which has corresponding functions or characteristics.
  5. Either half of a flattened fossil when the rock has split along the plane of the fossil.

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