Paired off

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Paired off

Used for listed equity securities. Matched buy and sell market orders, usually pertaining to the pre-opening market picture in a stock, or MOC orders (especially relating to futures/options expirations).

Paired Off

Describing two brokerage firms that buy/sell securities to each other without delivering the physical securities. Regulations require that the delivery occur within three days of the trade date. Pairing off indicates that the two brokerages are trading non-existent securities in order to create the impression of increased or decreased demand and thereby manipulate the price. Pairing off is illegal.
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book entries, and transactions may involve offsets or pairoffs at the
describing book-entry form and dealer pairoffs for Treasury bills).