Order size question

Discussion in 'Trading' started by I$land, May 22, 2007.

  1. I$land


    I usually send my orders by increments of 100 or 50 but is it possible to send by increments of 1 ? E.g. 101 shares.

    If so what are the pros/cons of using increments of 1 for order sizes ?

    Thanks !

    P.S. I'm with IB
  2. Odd lots fill FIRST, so the specialist can get them "out of the way". Of course, it helps to have enough activity so he can bundle with other odd lots to arrive at round lots. Multiple market makers and ECN's might be a different matter.
  3. I$land


    Efficiency, thank you for your comment.

    What's weird is last year I tried the Laser platform (from Genesis) and I remember there was a message that really surprised me. It said sending odd lots (to pass in front of other orders) was illegal or something like that and anyone who would do that would be punished and their account's closed !
  4. Really? I didn't know that. Interesting.

    btw, to the OP, yes, you can buy whatever sized lot you want. 99 or 100 or 101 or 29458 as long as it's an integer :)