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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 ?
Atkins, assisted by the only trained lawyer in the colony, ex-convict George Crossly (transported for perjury, and despised by the Corps' officers), commenced work at Government House on a Memorial to Bligh, concerning the actions of the six officers.
Adding heft to Burke's concerns: When I privately discussed his case with a prominent British physician who I expected would sympathize with Burke's views, I was taken aback when he told me crossly, "Burke is only thinking of himself rather than looking at the bigger picture.
Arriving in Luang Prabang, the leech-infested Gamier donned his dazzling uniform and clanked ashore, all buckles and swords, to report crossly that no-one gave him a second glance.
However, referee Crossly pointed to the spot and there was a sense of justice in the home ranks when former England midfielder Salako dragged his spot kick wide.
An elderly Italian woman appears from the darkness and crossly sends them away, speaking in incomprehensible Neapolitan.
She looked at me crossly, her lips pursing as she did whenever one of us said something rude.
Muttering crossly to herself, she jumped up and hurried back to the kitchen.
I put her diaper back on for the tenth time, and as I put her in her First Communion dress, I muttered crossly to God that if "all things work together for the good of those who love him," I hoped he had a plan for this little circumstance.
When a friend suggests that racial experience enhances artistic growth, she responds with brutal frankness: "'Oh, don't drag me into your old discussion,' Angela answered crossly.
She may begin to yell, speak angrily, and shake her finger, drumstick, or iron dagger crossly at the patient, demanding that the bad spirit talk.
The audience was bewildered as I shouted to the prompt corner, rather crossly, 'Drop the curtain.
I hate that word hulking," objected Tom crossly, "even in kidding.