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Fooled or tricked, similar to being punk'd. Usually causes severe chaos, confusion and detriment to fixed income traders and sales assistants
1) Oh nuuuu.... My PnL and risk are out substantially... oh wait... Ive been BALCHED!
2) These tickets are wrong direction, px, u/l and maturity... oh shut! Ive been BALCHED!
by BlueWhale January 16, 2009