Cross

(redirected from crossed)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
Related to crossed: crossed over, Crossed cheque

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 classic literature ?
The next day we crossed the plain, and followed the course of the same great mountain stream which flows by Luxan.
I regret that I ever crossed swords with you, Porthos; I swear not only that it shall never again be pointed at your breast, but that in the bottom of my heart there will never in future be the slightest hostile sentiment; now, Athos, come.
Notwithstanding the occasional exhortation and chiding of his companion, the noise of the horsemen's feet continuing to approach, Wamba could not be prevented from lingering occasionally on the road, upon every pretence which occurred; now catching from the hazel a cluster of half-ripe nuts, and now turning his head to leer after a cottage maiden who crossed their path.