TeachMeFinance.com - explain Cross order
Cross order -- Same as matched order; a stock market term.
meaning an order to buy and sell the same stock, usually for
the purpose of making a quotation.
Sometimes a broker receives an order from one customer to
buy and from another an order to sell the same stock ; then he
has a cross order which is not fictitious. On the New York
Stock Exchange a broker who has an order to buy and another
order to sell the same stock is not allowed to fulfil the orders
by entering one against the other. He must make an actual
purchase of another broker and an actual sale to another
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