wash sale
n.— «To tackle the problem, the European market set up a system that allowed market participants to simultaneously liquidate a Eurodollar position on the CME and rebuild the same one on Euronext.liffe. However, a CME rule prohibited a harmful market practice known as “wash sales,” or pre-arranged trades meant to offset each other. Euronext.liffe’s system met the description of a wash trade, even though its purpose was not meant to harm market quality.» —“ICE focused on future” by Isabelle Clary Pensions & Invesments (New York City) Apr. 16, 2007. (source: Double-Tongued Dictionary)
Further reading
Ever wonder what medieval England looked and sounded like? In Old English, the word hord meant “treasure” and your wordhord was the treasure of words locked up inside you. A delightful new book uses the language of that period to create...
Sure, there’s winter, spring, summer, and fall. But the seasons in between have even more poetic names. In Alaska, greenup describes a sudden, dramatic burst of green after a long, dark winter. And there are many, many terms for a cold snap...