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 ?
K], November 18 ( ANI ): Roger Federer, the nineteen-time Grand Slam champion, will aim to book his place in the final match of the season-ending ATP World Tour Finals when he crosses swords with David Goffin of Belgium here on Saturday.
Stitch's first shift in the Emergency Department gets off to a bad start when he crosses swords with Maggie, but he soon finds Selena's softer side.