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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 ?
And he is confident his side will again prove more than a match for the Hammers when they cross swords in the Principality on Monday week.
7.30am: Slovenia will be looking to the Republic of Ireland for inspiration when they cross swords with South Africa today.
Oscar-winner Anthony Hopkins has elbowed the offer to cross swords with James Bond - because he wants to cut a dash as Zorro.
Championship relegation gladiators Paul Hart of Crystal Palace and Sheffield Wednesday's Alan Irvine cross swords tomorrow in a season finale knowing victory for either side will send the other down.
(Richard Hayler, general secretary, BGRB, replies: I don't want to cross swords with Chris, who I have a great deal of respect for, and I don't dispute the figures in his letter.
Bilic, who will cross swords with England again in the World Cup qualifiers, added: "From the time we landed at Gatwick last week we didn't feel we were important enough for you."
Two of the biggest 'twicers' of the year cross swords in the 2.25, in Sound And Vision and Spence Appeal, and I'll probably lay both for a place.