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to match buyers and sellers of large blocks of shares. Depending on the particular broker-dealer's system and the type of securities traded (e.g., exchange-listed or OTC securities), these crosses could occur at various times during the day, or after the close of trading, and could be priced at the
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the advantages of very low commissions, anonymity for the buying or selling, and avoidance of market impact. As of 2012, examples of crossing networks included
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that employ computerized systems to match buyers and sellers of large blocks of shares without using a
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last sale price or some other objective price, such as the midpoint between the bid and offer or the
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Crossing networks tend to be used for highly liquid stocks and offer
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