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 ?
He and Saunders were "not at cross-purposes in understanding that the company has to be able to operate at lower expense levels.
But the rewards extend even further, says Denny, who stresses the importance of a society in which members of different generations benefit one another rather than work at cross-purposes. After all, she says, "these students are tomorrow's adult citizens, and isn't it in everyone's interest to ensure that young adults are sensitive to the issues that affect seniors?"
Sound tracks are a multiplatinum institution, but often the goals of the media and the public are at cross-purposes. In most cases pop sound tracks are more concerned with retailing than evoking a filmgoer's cinematic memories.
Most important, it works at cross-purposes with federal policies designed to encourage physician/hospital integration as a way to reduce duplication and incentives for overutilization of inpatient settings.
Hare's flair for creating characters who can make you feel itchy often works at cross-purposes to his streak of ideological rectitude--and can work wonders.
Milton scholarship, he also argues, would have none of this and instead insists that Milton simply doesn't have an agenda that's at cross-purposes with the Church.