Cross


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Cross

Securities transaction in which the same broker acts as agent for both sides of the trade; a legal practice only if the broker first offers the securities publicly at a price higher than the bid.

Cross

To match and execute two orders made to the same broker. Suppose a broker receives one order to buy 1,000 shares at $45 and another to sell 1,000 shares at $45. If he matches these two together, he is said to cross the orders. Crossing is subject to some regulation to prevent conflict of interest on the part of the broker.

cross

To match, by a single broker or dealer, a buy order and a sell order. For example, a floor broker may have an order to buy 500 shares of IBM at $120 and another order to sell 500 shares of IBM at the same price. Subject to certain rules, the floor broker may cross the order by matching the sell and the buy orders. Crossing of stock is common in large blocks.
References in classic literature ?
But the old lady, before Parfen had time to touch her, raised her right hand, and, with three fingers held up, devoutly made the sign of the cross three times over the prince.
Don't be afraid," he muttered, indistinctly, "though I have taken your cross, I shall not murder you for your watch.
I climbed the stairway in the church which brings one to the top of the small inclosed pinnacle of rock, and looked upon the place where the true cross once stood, with a far more absorbing interest than I had ever felt in any thing earthly before.
Under a marble altar like a table, is a circular hole in the marble floor, corresponding with the one just under it in which the true Cross stood.
It was the voice of the Red Cross Knight, which, when the champion heard, "with furious force and indignation fell" he rent that iron door and entered in.
Once more the Red Cross Knight was free and reunited to his Lady, while the false Duessa was unmasked and shown to be a bad old witch, who fled away "to the wasteful wilderness apace.
But the Red Cross Knight was still so weak and feeble that Despair almost persuaded him to kill himself.
The Red Cross of his Knight, "the dear remembrance of his dying Lord," was in those days the flag of England, and is still the Red Cross of our Union Jack.
The crew had known almost as soon as I that we were doomed to cross thirty, and I am inclined to believe that every man jack of them was tickled to death, for the spirits of adventure and romance still live in the hearts of men of the twenty-second century, even though there be little for them to feed upon between thirty and one hundred seventy-five.
They might cross thirty with impunity, and doubtless they would return to be heroes at home; but how different the home-coming of their commanding officer!
We must not let it come so far,'' answered the Prior; ``but here is the clown's sunken cross, and the night is so dark that we can hardly see which of the roads we are to follow.
The annual Thomas Guide published by Thomas Brothers Maps refers to the landmark as the "Mount Soledad Easter Cross.