Agency Cross

A transaction on an exchange in which one person serves as broker to both the buyer and the seller. This occurs when a broker receives opposite orders for the exact same security in the exact same quantity. When this occurs the broker must still go on to the floor of the exchange and announce the trade and wait for a better offer before executing the orders. Agency crosses are regulated like this to ensure that the broker does not favor one customer over another.

References in periodicals archive ?

Bangor, Maine-based independent agency Cross Insurance said it has appointed Abram Treadwell account executive of personal lines and Sean Doyle account executive of commercial lines.

People on the move in the P&C insurance industry: April 1, 2016

A protest declaration and a list of signatures against the Bulgarian government will be submitted in the Bulgarian Embassy in the Israeli city Tel Aviv, announced the Bulgarian news agency CROSS.

Bulgarian Jews in Israel Back Bulgaria Anti-Govt Protests

According to the SEC, Shaw carried out a "more than eight-year best execution fraud" by manipulating time delays in systems for executing and reporting agency cross trades on a regional US exchange to the advantage of hedge funds clients and at the expense of accounts belonging to employee stock purchase plans, employee stock option plans, direct purchase and sale plans and other similar plans.

BNY Mellon fined, ex-trader banned for best execution failings

The news was reported Saturday by the online news agency Cross.

Brother of Bulgarian Football Star Berbatov to Check in Rehab - Report

FINRA also found that Meeting Street and the Espositos effected certain agency cross trades between customers at prices in excess of the price at which Relay Capital stock traded on the date of the transactions.

FINRA Expels Meeting Street Brokerage, Bars Broker, Sanctions Firm's Owner for Market Manipulation, Other Violations