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 periodicals archive ?
700,000 to install 60,800 feet of continuous welded rail as well as install 10,000 new cross ties and four turnouts.
250,600 to construct track, replace cross ties, replace timber, install ballast and improve the line's surface.
Warren County: Allegheny & Eastern Railroad -- $900,000 to construct a new siding, replace culverts, install new turnouts, switch ties, cross ties and for ditch and grading work.
TYPE OF CONSTRUCTION: Rutland-Leicester FRT11 (024): REPLACEMENT OF EXISTING JOINTED RAIL WITH CONTINOUSLY WELDED RAIL (CWR), CROSS TIES, RECONSTRUCTION OF SEVERAL HIGHWAY AND PRIVATE CROSSING, THE REPLACMENT OF SEVERAL SWITCHES AND SURFACING OF TRACK AND SWITCHES.
In addition, the cross ties beneath the track were sold to a Kansas company to be turned into landscaping and railroad supports.
This maintenance project includes replacing rail, cross ties and turnouts; repairing bridge deck; rebuilding road crossing; and raising, lining and surfacing track along 10 miles of the railroad.
In addition, the letter of intent provides for an option in favor of NATK to purchase Thor/Gaia's technologies and other assets relating to the development and production of an alternative to wood railroad cross ties.
The maintenance project involves replacement of cross ties, switch ties and turnouts, and rebuilding track within the Port Ambridge Industrial Park; Carbon County -- Carbon County Railroad Commission, $79,275.
The wood treating division manufactures cross ties and switch ties, which it sells to class I railroads, regional railroads, transit authorities and railroad contractors.
In the past four years, we have invested $791 million on rail replacement and repair, cross ties and road bed surfacing," Snow said.