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cross
(redirected from Crossing the floor)

    Also found in: Dictionary/thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia, Hutchinson 0.02 sec.
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, 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.


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He gave a similar guarantee in relation to their Senate majority and it took politicians from his own party crossing the floor against proposed asylum seeker legislation before it was withdrawn in the Senate.
A question of balance by Iliffe, Jill / Australian Nursing Journal
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