sterling non-roundlot orders?

Quote from jnbadger:

I don't know who you guys are with, but we just checked into this the other day with Echo.

As a licensed "Pro", you can't send any order anywhere for less than 100 shares, but as long as its over 100, any number of shares is fine.

We've been filled on all kinds of odd lots over 100 over the last couple of weeks with no problems.

On another note, obviously if you have a standing order and only get filled on something like 17 shares, it's ok to take liquidity with that amount to get out.
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Thanks for the info, jnbadger.
 
You bet. As far as the original post, our sterling doesn't prevent us from sending small odd lots, so it must be firm specific. And they do take it pretty seriously. A while back a guy in our group was sending small odd lots for pairs, and got shut down for a while. Slap on the wrist, but he still should have looked into it first.
 
thanks. I am not trying to send small lot orders but to match my short exposure to my long as much as possible. I tried sending some mixed lot (eg 160, 894, 468) to EDGX today but they are all rejected. Will try again using ARAC and others tomorrow.

If still rejected, gotta leave some small unnecessary exposure or to switch firm.
 
Understood. Yeah, try some other ECNs, and if that doesn't work, contact your firm. They should allow it. It's not illegal or anything.

Good luck.
 
thanks.

I did, but the firm said they cant allow for some abcxyz reason.

Will try tomorrow. cant see any reason why mixed lot orders are not permitted.
 
Sorry, didn't see your other post. I'm thinking everything will get rejected if it's a clearing firm issue, regardless of the ECN.

It sounds like you either need to trade large size with round lots to get the ratio right, or switch firms.

Let us know how it goes.
 
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