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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 ?
Also, Thames Water has appointed Tamesis, a joint venture between Imtech and Laing O'Rourke, as the contractor for a EUR155m upgrade to the Crossness Sewage Treatment Works on the south bank of the Thames as well as a EUR150m upgrade to the Beckton Sewage Treatment Works on the north of the river.
Forster's observation on Joyce's Ulysses (1922) that Modernism has been a 'concerted attempt to cover the universe with mud, an inverted Victorianism, an attempt to make crossness and dirt succeed where sweetness and light failed'.
The Royal Insurance bulding on the corner of North John Street and Dale Street Picture: GARETH JONES; Simon Thurley, chief executive of English Heritage, launching the 2007 Buildings at Risk register at Battersea power station; Crossness Works
Crossness Pumping Station, Bexley, south east London - pounds 3 million
A medical assessment was made before a massive salvage barge, the Crossness, was brought to the scene.
As darkness fell, Willy was carried down the Thames on the salvage vessel Crossness in an operation that is expected to cost pounds 80,000.