A term used informally to refer to the U.S. ten dollar Bill. The slang is sometimes still used by Interbank forex traders to refer to a Dealing amount of $10 million dollars and comes from a tool known as a sawbuck used by carpenters to hold wood when sawing it. The tool is shaped like the X that the ancient Romans used to represent the number ten and which appeared on ten dollar banknotes issued by the U.S. Treasury before the Federal Reserve was founded.
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International Centre for Settlement of Investment Disputes