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banging the close

banging the close
 n.— «The CFTC alleges that the defendants employed a manipulative scheme commonly known as “banging” or “marking” the close. “Banging the close” refers to the practice of acquiring a substantial position leading up to the closing period, followed by offsetting the position before the end of the close of trading for the purpose of attempting to manipulate prices.» —“CFTC charges Dutch group Optiver with manipulation of Nymex energy futures market” HedgeWeek Ju;y 24, 2008. (source: Double-Tongued Dictionary)

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