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 classic literature ?
It was there," said the doctor, "that Barth crossed the Niger, on his return from Timbuctoo.
Was it the shadow of a satisfied smile that crossed his thin lips?
I would replace the destroyed instruments upon the bridge; every officer and man should know when we crossed thirty.
With these exceptions (and with that of the perfect fertility of varieties when crossed,--a subject hereafter to be discussed), domestic races of the same species differ from each other in the same manner as, only in most cases in a lesser degree than, do closely-allied species of the same genus in a state of nature.
Some years ago, a passenger endeavoured to escape detection, by making a long circuit over a neighbouring mountain; but this Indian, having by chance crossed his track, followed it for the whole day over dry and very stony hills, till at last he came on his prey hidden in a gully.
All Turlington could see as he crossed the field of light was, that his hat was pulled over his eyes, and that he had a thick beard and mustache.
Fifty feet above the ground, almost over their heads, a Douglas squirrel crossed the road--a flash of gray between two trees; and they marked the continuance of its aerial passage by the bending of the boughs.
I descended at once to the churchyard, and crossed the stile which led directly to Mrs.