Cross

Definition

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.

Nearby Terms

Crisp Sets Critical Levels Cross Cross hedging Cross rates

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Covenant
An agreed action to be undertaken (Positive) or not done (Negative). A breach of a covenant is a default.

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