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jamming

jamming
 n.— «The practice known as “slamming the wire” or “jamming” is not illegal but can upset the efficiency of the $600 billion-a-day U.S. government debt market, according to a report in the Financial Times on Thursday.…The “slamming” trade involves holding a large quantity of Treasury securities, borrowed as part of a repo, until the last seconds of the trading day when they are due and then flooding the market, making it hard for other traders to finish their end of the trade, according to the report. The end result is the “slammer” releases himself of obligations while holding cash overnight from other parties at zero cost.» —“‘Slamming’ may be cause of US bond mkt probe-report” in New York Reuters Nov. 10, 2006. (source: Double-Tongued Dictionary)

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