A form of cross in which two counterparties (a buyer and a seller) get a mid-quote fill price from a reference exchange. The two counterparties place large, offsetting orders in a crossing network, with no limit price- no minimum or maximum price for execution. The resulting cross will occur at the mid-quote price. Initially, neither side incurs transaction fees (hence the cross is frictionless). However, after a cross occurs, both sides usually incur the crossing network fee.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Comments