agency cross

agency cross definition - finance
A trade in which one broker acts as the agent for both the buyer and the seller. This typically occurs when a broker receives orders from two different customers for the same number of shares for the same security. The order can be processed without sending it to the exchange because both parties already have been identified.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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