Frisky ponies on time showing intelligence (9)
I believe the answer is:
espionage
'intelligence' is the definition.
(I know that espionage is a type of spying)
'frisky ponies on time' is the wordplay.
'frisky' indicates an anagram.
'on' means one lot of letters go next to another.
'time' becomes 'age' (an age is a period of time).
'ponies' is an anagram of 'espion'.
'espion'+'age'='ESPIONAGE'
'showing' is the link.
(Other definitions for espionage that I've seen before include "intelligence" , "hush-hush work" , "Practice of spying" , "undercover work" , "agent's job" .)