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 ?
The anti-terrorism court in Rawalpindi rejected this evidence, saying the commission needed to cross-examine the witnesses.
In a message sent to Indian authorities through diplomatic channels on July 20, the Federal Investigation Agency asked that the defence counsel should be allowed to cross-examine surviving attacker Ajmal Kasab, chief investigation officer Ramesh Mahale, and Ganesh Dhunraj and Chintaman Mohite, the two doctors who performed the autopsies of slain attackers.
Following negotiations between officials of the two countries in December, India agreed to allow the Pakistani commission to cross-examine the police officer who led the probe into the Mumbai attacks, the magistrate who recorded the confession of Ajmal Kasab, the lone surviving attacker, and two doctors who performed the autopsies of the attackers.
In an important step to goad Pakistan to expedite the 26/11 terror attack trial, India Thursday had conveyed its "in-principle agreement" to allow a second judicial commission from Pakistan to visit Mumbai and cross-examine the officials involved in recording the confessional statement of Ajmal Kasab, the lone surviving Lashkar-e-Taiba terrorist.
Legal expert Professor Michael Zander, who lectures at the London School of Economics, agreed the judge had no choice but to allow Edwards to cross-examine.
The commission arrived for the second time as its report submitted after the first visit in March 2012 was rejected by an anti-terrorism court in Pakistan as the panel members were not allowed to cross-examine the eye-witnesses.
The Constitutional Court will cross-examine all the petitions as soon as possible, he stressed, noting that the tribunal had asked the Ministry of Interior to furnish it with detailed results of the National Assembly elections and the votes each candidate had garnered in the country five constituencies.
In another case, a paedophile who abused his children could cross-examine their mother as he battles for access to them.
The anti-terrorism court judge Habibur Rehman said that the report compiled by the nine-member judicial commission from Pakistan and their Indian counterparts was unlawful because the defendants were not given the right to cross-examine the witnesses.
Interveners will have a chance to cross-examine Enbridge officials in formal hearings in September and October.
The court will cross-examine another commission official as a second witness on Sept.
Sheridan, 46, who was preparing to cross-examine a witness, turned around and walked back to stand by wife Gail, his co-accused in the perjury trial.