Odd Lot

In trading, the term odd lot is used in reference to a group of securities whose number cannot be broken up into round lots.

In stock trading, a group of 100 shares in a stock is considered to be a round lot. Multiples of 100 shares are also considered to be round lots. All other amounts are considered odd lots.

Some exchanges require trades to be performed in round lots, making odd lots less liquid than round lots.

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