Cross

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Related to crosses: reciprocal crosses

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 ?
In this way, every one of our crosses can become a moment of grace, a seedling of the tree of life.
Jewish leaders worldwide vigorously decried the presence of the crosses and pressed for Church and government intervention.
West Germany averaged 21 crosses a match while allowing 12.
Some crosses portray the anguish of Jesus in unflinching detail, reminding us that God is no stranger to our suffering; while others hold the deceased Christ, eyes closed and head bowed, a silent witness to the beautiful words of John's gospel: "For God so loved the world that he gave his only Son, so that whoever believes in him might not perish but have eternal life" (John 3:16).