are you kidding me... I can't imagine this happening
Lowest share size without running into problems
- Thread starter NakedNote
- Start date
are you kidding me... I can't imagine this happening
Never again....The NYSE has a separate system for dealing with trades of less than 100 shares for the occasional trade. You can place an odd lot order to the NYSE as long as you are not unbundling a larger order and are not "trading" odd lots. So an occasional odd lot is fine, if you try to trade odd lots your firm will shut you down or get fined hundreds of thousands of dollars. One example of this is below:
"In 1991, the NYSE introduced a new odd-lot order service, the purpose of which was to serve as an efficient and inexpensive order execution system for smaller investors who tend to engage in traditional odd-lot investing practices... the NYSE set forth certain odd-lot practices that were not consistent with the use of the NYSE odd-lot system including, among other practices, the unbundling of round-lot orders into odd-lots and any pattern of odd-lot limit order activity that would suggest day trading"
"...violated NYSE Rule 342 by failing to reasonably supervise and implement adequate controls, including a separate system of follow-up and review, reasonably designed to achieve compliance with NYSE odd-lot rules and policies â Consent to censure and $115,000 fine."
http://www.nyse.com/pdfs/06-122.pdf
"In 1991, the NYSE introduced a new odd-lot order service, the purpose of which was to serve as an efficient and inexpensive order execution system for smaller investors who tend to engage in traditional odd-lot investing practices... the NYSE set forth certain odd-lot practices that were not consistent with the use of the NYSE odd-lot system including, among other practices, the unbundling of round-lot orders into odd-lots and any pattern of odd-lot limit order activity that would suggest day trading"
"...violated NYSE Rule 342 by failing to reasonably supervise and implement adequate controls, including a separate system of follow-up and review, reasonably designed to achieve compliance with NYSE odd-lot rules and policies â Consent to censure and $115,000 fine."
http://www.nyse.com/pdfs/06-122.pdf
Just route your order to island. You can trade 1 share on island and still receive a normal fill. You can also get some rebate on your 1 share if you buy the bid and sell the offer.
Are you a complete fucking moron?!??! Of course it happens...have you ever traded with real money in your life?
