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 ?
Crossing Paths provides a unique and invaluable opportunity to connect meaningfully with your colleagues.
They show a range of techniques developed by Cunningham to propel his dancers from points A to B, including walking, prancing, and leaping, as well as places to stand still and reconsider or await the crossing paths of other dancers.
In the 1930s, Ralph Ellison and Albert Murray overlapped by one year as students at Tuskegee University, where they barely knew each other; they became friends a decade later, crossing paths in New York.
Today Joyce has the satisfaction of crossing paths with former students, which many are now colleagues.