New round lot rule

[terr]

https://www.sec.gov/news/press-release/2020-311

Does anyone know the date when it goes into effect?

Also, it is not clear what the reference price is. Is it previous close price or is it actually the price of the lot?

 

[zdreg]

please be more specific with an example.

 

[terr]

? what example.

1. At what date are they putting the rule into effect?

2. Let's say the stock price changes from 249 to 251 during the day. Is the round lot size determined based on previous day's close (so it just stays at 100 for the whole day) or is it 100 for the part of the day where the price is at 250 and below and at 40 for the other part?

 

[rb7]

Firstly, that's a 9 months old press release. So, you'll need to do your homework and go through more recent press releases.

Secondly, it impacts NMS only.

 

[zdreg]

So, you'll need to do your homework

You ought to trademark that part of your reply. It is applicable to many posts.

 

[murray t turtle]

please be more specific with an example.

%%
Sounds like a good idea;
too many quotes , if every odd lost was priced...........Since they mentioned it was to be orderly , most any time in 2021[8-26-2021]

 

[terr]

I could not find any more recent press releases. Maybe my google-fu is at fault.

The most recent relevant page I found is this: https://www.nasdaq.com/articles/nms-ii-doesnt-fix-the-odd-lot-problem-2021-05-06 which just reiterates the same scheme and still doesn't answer my questions.

 

[murray t turtle]

You ought to trademark that part of your reply. It is applicable to many posts.

%%
LOL, i reread the original link again.
They're running late, but theyre more concerned with an orderly market. WITH another SEC chief, from that original link, not clear what's next/should be orderly.....