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TeachMeFinance.com - explain Cross exchange historic definition... Cross exchange -- An operation in exchange in which three or more places are involved. For example, a person in New York who has an obligation to meet in London may find it more advantageous to forward to London in payment of it a draft (bill of exchange) on Paris than to forward a draft on London. In such a case exchange on Paris in New York "would be cheaper than exchange on London in New York. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.