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 ?
He was no relation of course,'' Melly recalls, ``but it meant that Bacon, rather crossly, had to travel down to Southampton and identify his body.
We are currently confirming these early results in expanded trials with a larger group of Kaposi's sarcoma patients," Crossly added.
No, there will be no more little blue pens (or maybe only in betting shops), no more slips of squared paper, no more tapping in the code into that fiddly yellow machine, and crossly choosing another when it says "out of stock".
She started eating, then stopped and looked behind herself, crossly, just as she used to do every time her beloved(ish) husband Ronald Meowington (RIP) tried to nick her food after wolfing his own down in 0.
It's good practice for you," says my daughter crossly when I innocently question her sanity.
It's just the wind," said the Man-in-Charge crossly, irritable because I'd screamed loudly into his left ear and roused him from slumber.
Wendy Sloan, Regional sales manager and Geoff Crossly, connection support manager travelled to Bristol Street last week to present the cup to Keith Chipchase and Mike Hornby, used car director and used car controller.
Nothing even close to that ever happened," she says crossly.
Latvian substitute Igors Semjonovs came on just past the hour and his first touch was superbly saved by Crossly, who tipped the ball over the bar.
IT all began when Nick Faldo brushed crossly past me.
They would all take me to the Palm House in the pram or sometimes running rather crossly beside it.