Banging the close
Also known as marking the close.
1) A form of market manipulation where a trader uneconomically buys or sells futures contracts during the closing period. This is done to benefit futures positions purchased earlier in the day, or positions in a derivative that is cash-settled based on the futures settlement price of that day.
2) Violating bids or offers to artificially mark the closing price.
These two practices have been outlawed in European gas and power markets by the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) and the Maret Abuse Regulation (MAR).
* see also Market Abuse Regulation (MAR); Regulation on Wholesale Energy Market Integrity and Transparency (REMIT)