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 ?
However Mr Marsden yesterday pointed out that Labour MPs had not called for the resignation of former Conservative MPs Alan Howarth, whorepresented Stratford on Avon, or Peter Temple-Morris, who represented Leominster, when they crossed the floor to Labour.
Meanwhile, imagine Kadu had never crossed the floor and Ronald Ngala remained leader of the opposition to be succeeded in later years by deputy leader Daniel arap Moi, who had to fight Masinde Muliro for the top job.
After she crossed the floor, Jansen was attacked with thinly veiled threats by opponents who referred to her as "dead meat," a "traitorous bitch" and a "useless tit.
Vying for the position vacated when Danielle Smith crossed the floor to join the PCs in December, along with more than half her sitting members, are former Fort McMurray-Athabasca MP Brian Jean, former Strathcona County mayor Linda Osinchuk and Cypress-Medicine Hat MLA Drew Barnes.
He was then the 36-year-old Home Secretary in the Liberal government, having crossed the floor six years before when the Conservatives split over the issue of free trade.
Canberra, Nov 23 (ANI): Australian police are investigating claims by a former senator that a News Corp executive offered him favourable newspaper coverage and 'a special relationship' if he crossed the floor on a vote of financial interest to the company.
Mohammad Asghar, the AM who crossed the floor to join the Conservatives in the last Assembly, claimed he did so upon discovering that the party's ethos did not chime with his own passionate belief in the Royal Family and the United Kingdom.
Lorely Burt (Lib Dem Solihull) accused Labour of stage-managing the defection of Simon Slater, a councillor who crossed the floor from the Lib Dems to Labour.
John Bercow should have done the decent thing years ago, and crossed the floor to join his New Labour chums.
Most were former Labour MPs - only one Conservative crossed the floor - but the alliance did win a handful of by-elections.
it does appear that some MPs previously loyal to Thaksin may have, in fact, crossed the floor .
This was actually my idea,' said the former Tory who crossed the floor of the House of Commons to become a New Labour kingpin.