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Agency Cross |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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