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 ?
Sound tracks are a multiplatinum institution, but often the goals of the media and the public are at cross-purposes.
Most important, it works at cross-purposes with federal policies designed to encourage physician/hospital integration as a way to reduce duplication and incentives for overutilization of inpatient settings.
These regulatory burdens and costs often work at cross-purposes with the development of the affordable, domestic energy needed to power a growing economy.
Milton scholarship, he also argues, would have none of this and instead insists that Milton simply doesn't have an agenda that's at cross-purposes with the Church.
There are no cliches here: Athenian society was often untidy, and the Spartans were neither dependable nor particularly fearsome, and both frequently worked at cross-purposes.