A floor broker from time to time may get an order from both a buyer and a seller in the same security. The floor broker may be allowed to pair off or “cross” the orders and execute both orders simultaneously. In order for the floor broker to cross the stock, the DMM must allow it and the floor broker must announce the orders in an effort to obtain price improvement for the orders. The floor broker must offer the stock for sale at a price above the current best bid and may purchase the stock using the buy order if no price improvement has been offered. This will then complete the cross and both orders will be filled.





Do Not Reduce / DNR

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