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 periodicals archive ?
Film of the storage depots showed grain sacks, tents and other supplies ablaze - much of it clearly marked with the Red Cross symbol.
The roof of the building was marked with the Red Cross symbol.
They rebuilt Valletta as a fortress and left their mark with stunning cathedrals, palaces and the Maltese Cross symbol.
Scripts that use vampires or show blood donors under the age of 17 are taboo, as are those that use the Red Cross symbol or flag to disguise something - a mistake made by the producers of one of the previous James Bond movies, who discovered that the emblem is protected by federal law.
did not focus on protecting the delivery of humanitarian assistance because it refuses to abandon its traditional reliance on the red cross symbol to provide protection.
"The Puritans hated the cross symbol, they came here to get away from religious disputes in England.