Cross

(redirected from Cross symbol)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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 ?
Worst of all, the Red Cross symbol was widely abused, appearing on armbands worn even by those pillaging the dead.
Featuring a modern font and a cross symbol in bright orange, the new brand represents the company's renewed approach to improving customer service and redefining the patient experience.
San Diego Unified School District is painting its MRAP white and hoping to use the Red Cross symbol on it to assuage community worries, said Ursula Kroemer, a district spokeswoman.
This time the issue was raised by the ACLU after the city of Redlands recently bowed to its threatened lawsuit over a similar cross symbol.
The ship,he told Beth, should have had all its lights blazing and been marked with a Red Cross symbol.
Film of the storage depots showed grain sacks, tents and other supplies ablaze - much of it clearly marked with the Red Cross symbol.