wash sale

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)

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Further reading

Ride or Die Origins and Meaning

Patrick in New York City is curious about the term ride or die, which describes a friend, fan, or romantic partner who is devoted to the end. The expression shows up in the mid-1990s in hip hop and the work of Tupac Shakur and The Lox, and often...

Cool Beans (episode #1570)

If you speak a second or third language, you may remember the first time you dreamed in that new tongue. But does this milestone mean you’re actually fluent? And a couple’s dispute over the word regret: Say you wish you’d been able...