Status: Published
Version date: 7 October 2011 - onwards
    Version 1 of 1    

Banging the Close

A manipulative or disruptive trading practice whereby a trader buys or sells a large number of futures contracts during the closing period of a futures contract (i.e., the period during which the futures settlement price is determined) in order to benefit an even larger position in an option, swap, or other derivative that is cash settled based on the futures settlement price on that day