Agency Cross

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