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Crossing the Market

In order for the market to move either up or down in price, participants must “Cross the Market”.

For price to move up, buyers must be willing to “Cross the Market” and trade at the next available Best Offerprice, rather than waiting for a Limit Order at the Best Bid price to be filled. This is also known as Lifting The Offer.

Alternatively for price to move down, sellers must be willing to “Cross the Market” and trade at the next available Best Bid price, rather than waiting for a Limit Order to be filled at the current Best Offer price. This is also known as Hitting The Bid.

Participants who are willing to “Cross the Market” and trade at the current market Bid or Ask price, are known as Aggressive Participants, because they are willing to accept a worse price than they would receive by waiting for a Limit Order to be filled at a price other than market.

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