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 ?
The government is preparing new advice for tourists travelling to Turkey after a warning from a Kurdish rebel group that they could be caught in the cross-fire of its bombing campaign.
He died shortly afterwards, caught in cross-fire between Ethiopian government troops and Eritreans fighting for independence.
In these slow-motion pictures, Chow connects emotionally only with other men; women hardly exist, save as innocents caught in the cross-fire.
Francois Laroque traces the subversive wordplay and its consequences in the text: the scatological and the grotesque, the oxymoron or "crosse-couple," the sexual innuendo in the Nurse's speech, puns and "low-life linguistic bricolage," the feminization of Romeo, the cross-fire between rival families that leads to a collapse of the distinction between life and death in the star-crossing of the lovers.
The committee also conducted some practical experiments to determine the optimum vehicle positioning for intercepts, taking into account concerns for officer safety, such as cross-fire and possible air bag deployment.
We also heard the warnings: gangs of unruly typestyles robbing blank pages of their innocence, power surges appearing out of nowhere and wiping out years of work, systems crashing, viruses attacking, incompatible software packages catching unarmed bystanders in their cross-fire.