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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 ?
Administrative and clinical HealthChampion specialists also can cross-refer to employee assistance program (EAP) services.
Even worse than offering to cross-refer clients is offering to split commissions.
Companies need to batten down the hatches, pay the bills on time, network more and cross-refer business to each other.
Lists of plants for particular purposes cross-refer to the directory.
An excellent medicine index lets you cross-refer treatments to avoid drug complications.
He added: "There are many areas where we can cross-refer our customers and technology and equally many areas of duplicated cost providing opportunities to improve the margins of the enlarged Roxspur Group.
Both the SAS and SSAE cross-refer to Statement on Quality Control Standards no.