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 ?
Or conversely, if they had not wanted to run in a by-election, it would not have denied them the option of crossing the floor and remaining a member of the House of Commons, but they would not have been able to accept a cabinet position until they had run in the next general election.
Instead, all eyes were on the small brown mouse, which was slowly and purposefully crossing the floor of the Commons from beneath the Government benches to the Opposition benches across the way.
Helen was the scheming mistress in the BBC's political satire Crossing the Floor and an uncompromising Army officer examining allegations of lesbianism in the Channel 4 drama The Investigator.
Crossing The Floor - in which she starred on BBC2 with Neil Pearson - beat off strong opposition to land the Best Drama award.
For this reason, anyone crossing the floor needs to be legally obliged to stand for re-election, be it MP or councillor.