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 classic literature ?
"Don't be afraid," he muttered, indistinctly, "though I have taken your cross, I shall not murder you for your watch." So saying, he laughed suddenly, and strangely.
He took a knife, and when his friend turned his back, he came up softly behind, raised his eyes to heaven, crossed himself, and saying earnestly--'God forgive me, for Christ's sake!' he cut his friend's throat like a sheep, and took the watch."
Under a marble altar like a table, is a circular hole in the marble floor, corresponding with the one just under it in which the true Cross stood.
Helena, the mother of the Emperor Constantine, found the crosses about three hundred years after the Crucifixion.
In the case of animals with separate sexes, facility in preventing crosses is an important element of success in the formation of new races,--at least, in a country which is already stocked with other races.
When the false Duessa discovered that the Red Cross Knight had fled, she followed him and found him resting beside a fountain.
It was the voice of the Red Cross Knight, which, when the champion heard, "with furious force and indignation fell" he rent that iron door and entered in.
Neither the boasted alameda, nor the scenery, is at all comparable with that of Santiago; but to those who, coming from Buenos Ayres, have just crossed the unvaried Pampas, the gardens and orchards must appear delightful.
-- The solitary hovel which bears the imposing name of Villa Vicencio, has been mentioned by every traveller who has crossed the Andes.
"You mean to say that you will cross thirty without submitting to arrest?" he almost shouted.
The crew had known almost as soon as I that we were doomed to cross thirty, and I am inclined to believe that every man jack of them was tickled to death, for the spirits of adventure and romance still live in the hearts of men of the twenty-second century, even though there be little for them to feed upon between thirty and one hundred seventy-five.
At length Brian remarked, what had at first escaped him in the twilight; ``Here is some one either asleep, or lying dead at the foot of this cross Hugo, stir him with the but-end of thy lance.'' This was no sooner done than the figure arose, exclaiming in good French, ``Whosoever thou art, it is discourteous in you to disturb my thoughts.''