Agency Cross

Agency Cross

A transaction on an exchange in which one person serves as broker to both the buyer and the seller. This occurs when a broker receives opposite orders for the exact same security in the exact same quantity. When this occurs the broker must still go on to the floor of the exchange and announce the trade and wait for a better offer before executing the orders. Agency crosses are regulated like this to ensure that the broker does not favor one customer over another.
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Bangor, Maine-based independent agency Cross Insurance said it has appointed Abram Treadwell account executive of personal lines and Sean Doyle account executive of commercial lines.
A protest declaration and a list of signatures against the Bulgarian government will be submitted in the Bulgarian Embassy in the Israeli city Tel Aviv, announced the Bulgarian news agency CROSS.
According to the SEC, Shaw carried out a "more than eight-year best execution fraud" by manipulating time delays in systems for executing and reporting agency cross trades on a regional US exchange to the advantage of hedge funds clients and at the expense of accounts belonging to employee stock purchase plans, employee stock option plans, direct purchase and sale plans and other similar plans.
The news was reported Saturday by the online news agency Cross.
FINRA also found that Meeting Street and the Espositos effected certain agency cross trades between customers at prices in excess of the price at which Relay Capital stock traded on the date of the transactions.
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