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 ?
Built in the shape of a Greek Cross, this lath-covered conservatory has a new gesneriad collection, neon-bright bromeliads, flowering orchids, and a broad year-round collection of aroids and ferns.
The foundation emblem incorporates the color purple to honor those who have been wounded in battle, the Greek cross to signify aid, and the infinity symbol to represent the conviction that the sacrifices of heroes should always be remembered.
Figure 2: GaAs Greek Cross Hall Sensor with AuGe Contact is available on the CCNMatthews website at the following link http://www2.