Hi, I usually only trade futures, but just now I tried to buy 30 shares of certian NYSE stock as I saw it was offered on the screen, but the trading platform feedbacked that "NYSE dosn not accept odd lot order" . Does it mean I should buy at least 100 shares of stocks at NYSE ? Then how could that 30 shares appearing in the "ask size" column of the screen.
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buy odd number NYSE stocks
- Thread starter joesan
- Start date
It was either a truncated quote (add two zero's to the 30), or it was offered on an ECN.
Don
Don
Quote from joesan:
I saw this on Interactivebrokers TWS screen. I checked margin, it seems only 25% of the 30 shares of the stock is needed to fund this trade, so I think it is not truncated number of shares there. Is IB TWS an ECN ? Sorry I have almost no idea of NYSE mechanisms.
I don't know the WS system, but you should have at least a Level2 screen that tells you the exchange/ECN/Open book, etc. of the destination for sending in orders. How else would you know where to park your orders to get paid for providing liquidity? Check with your IB rep.
Don
IB TWS always shows stock quotes in lots. Also, IB will accept odd-lot shares orders routed directly to NYSE only if number of shares >= 100.