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 ?
They did this out of revenge for our vicious attack on their hard line," said Ma, the Crossing Swords co-author and commentator at People's Daily, the Communist Party's flagship newspaper.
CROSSING SWORDS Crowds gather to watch the re-enactment in North Dublin yesterday
JEAN WHITE, Redcar * * * * * * COUNCILLOR George Dunning and T Welburn seem to be crossing swords over the funding for the new Redcar swimming pool with Mr Welburn asking where the money was coming from.
You've got to feel sorry, then, for poor old Jamie Hunter when he makes the mistake of crossing swords with Lenny this week.