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 ?
WHEN we wish each other Happy New Year this Thursday there will be many crossed fingers.
USC followers had crossed fingers, prayed to Tommy Trojan and promised undying booster support to prevent the NFL from absconding with their prized leader and making him a head coach.
One suggestion to raise public awareness is to have the Lottery's famous crossed fingers logo on buildings and projects which were helped.
One suggestion is to have the Lottery's crossed fingers logo on buildings and projects which werehelped.
As a small enterprise owner, I wouldn't advise sitting on crossed fingers for another three months.
Findlay sold the nine-year-old, named after his legendary greyhound, in a private deal to the Crossed Fingers Partnership, namely Max Fawbert and Nick Williamson.
Big Fella Thanks will now run in the blue silks of the Crossed Fingers Partnership.
The complex cap, and plenty of crossed fingers, held.
No one should marry with crossed fingers and a skeleton in their cupboard.
Camelot chief executive Dianne Thompson, said: "We are delighted that blue plaques with the crossed fingers logo will appear on lottery-funded projects so the public can see exactly how their money has been spent and how, by playing lottery games, they have helped transform communities throughout the UK.
If all went well and all things were considered, we anticipate with crossed fingers that our new YMCA facility would open its doors by 2004,'' Wright said.
Labour wants Midlands' businesses to be able to plan with confidence, not crossed fingers.