A cross (a type of crossing pools) that performs an auction at preset times. It submits orders (bids and offers) to the pool where they are matched. The pool attempts to accumulate as much liquidity as possible. Usually, market participants send their orders prior to a cross, and a match occurs and fills are sent out. This helps minimize price impact. The schedule of the crossing is based on the procedures of a given dark pool; an auction can be carried out every few minutes, hour, couple of hours, etc.
Examples of scheduled cross include POSIT, IDX, etc.
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