Cross

(redirected from Crossing the floor)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

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 it comes to members crossing the floor to become Ministers as in the case of David Emerson in 2006, Belinda Stronach in 2005 and Jack Horner in 1977 maybe it is time to revert, in part, to the law that existed from the time of confederation to 1931.
The overhead system allows the company to limit the amount of people traffic crossing the floor because the conveyor brings empty cartons direct to the operators for packing at a top rate of 90 boxes per minute.
Section 65 bans MPs from crossing the floor and Mutharika (photo above) wants it changed because "it contradicts freedom of association".
Now she is seriously considering joining the Tories and crossing the floor of the House.
Since rising to fame in BBC1's hospital drama, Cardiac Arrest, Baxendale has been seen in various of TV roles, including a private eye in An Unsuitable Job for a Woman and a minister's mistress in the political satire Crossing the Floor.