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banging the close

banging the close
 n.— Â«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.» â€”“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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