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 ?
And for cross-breds, the full colour pie chart on each certificate shows the proportion of each breed in the animal's pedigree - a particularly valuable tool for producer's as they plan the breeding programme.
The sale, judged by cattle exhibitor Mark Hallam, was organised to showcase some of the finest cross-bred cattle in North Wales, for which the region is rapidly gaining a winning reputation.
This is nowhere near the silliest accepted name for a cross-bred animal, though.
We expect some will be replaced by cross-bred bulls and heifers which in the latter part of 2004 could be trading at pounds 50-pounds 80 a head," he added.
Until 1989 they kept a herd of cross-bred suckler cows at Glangwden, Trefeglwys, near Llanidloes in Powys.
Norstein backers believe the cross-bred will herald a new direction in the UK.
The two cross-bred dogs were found by a walker late on Monday night as she walked over remote moor land near Bridgend.
The family's 100 cross-bred cows and two flocks of sheep - 710 Welsh ewes and 620 Lloen ewes - will also be on view.