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Finance Dictionary and Glossary of Investment Terms
Crossed trade
Definition 1.
The prohibited practice of offsetting buy and sell orders without recording the trade on the exchange, thus not allowing other traders to take advantage of a more favorable price.
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Definition 2.
A practice in which a broker offsets buy and sell orders without recording the transactions on the exchange. This is illegal, because it may prevent an investor from getting the best possible price on the trade.
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