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 ?
The label also bears a gold crown with crossed swords and two red lions at the top, with a gold image of buildings at the bottom.
ATHE blue crossed swords is one of the most commonly faked porcelain marks.
The Raiders say their rights were violated when the NFL let the Tampa Bay Buccaneers use crossed swords in their insignia and approved ``ebony and pewter'' colors for the Carolina Panthers.
SIR - I crossed swords with Squadron Leader Palmer of Mountain Ash (Letters, August 18) a few years ago via your columns.
They also crossed swords with her over her harsh comments to the contestants.
I crossed swords with the Scientologists last year when one of its "front"
VERDICT Spring Lover and Saucy Night have crossed swords once before over fences, when the Venetia Williams-trained gelding came out well on top, conceding 7lb to Simon Earle's runner.
They are 11" high and one of the figures has a crossed swords mark on its base but I suspect they are quite recent and possibly not worth the pounds 50 I paid for them.
A campaign has been launched to deselect an outspoken MP who has repeatedly crossed swords with a local council.
The life-size bronze statute of St Tydfil stands on a base bearing a helmet and crossed swords, ornamented with rams' heads and garlands representing an altar of sacrifice.
Now Dow - who has crossed swords with Perth and Kinross MP Roseanna Cunningham - has declared himself a Holyrood hopeful.
I'm a little pensive,'' he said during a break, just before he and Santiago crossed swords.