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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 ?
I am sure he would love to cross swords again with Martin O'Neill like in the Glasgow derbies.
The winner contests today's Grand Prix de Saint-Cloud but Egerton (second), Schiaparelli (third), Expensive Dream (seventh) and Poseidon Adventure (eighth) all cross swords again.
SVEN-GORANERIKSSON is preparing to cross swords once again with the man responsible for inflicting the most painful defeat on the Swede during his tenure as England head coach.
3) Basil Rathbone, left, and Errol Flynn cross swords in ``The Adventures of Robin Hood,'' one of five classic movies playing in the Last Remaining Seats series.
Now he is hoping to cross swords with his former team-mates in the European Cup.
Elwoodwill cross swords this Elwood will cross swords this evening with a former Lansdowne colleague Conor O'Shea, the director of rugby who has taken Quins to the top of the English premiership, while Quins head coach John Kingston coached Elwood and his assistant Dan McFarland at Galwegians.
By the end Federer looked a broken man and he could have trouble forgetting such a demoralising defeat if the pair cross swords in the final at the All England Club - an eventuality Ladbrokes make just 3-1.