Quote from Tranbo:
I'm looking for prop firm that allow sending shares in less then 100 shares lot for US Equity Market. Prefer Sterling Pro support but others trading platform will do.
Thanks
If your strategy is to trade the "high flyers" (NFLX, AMZN, GOOG, AAPL, etc), perhaps you can ask DirectEdge if they still accept odd lots orders from prop firms. At Team Trading, the prop traders (over 1000+) were trading odd lots, all day, everyday, as the firm's broker routed orders to DirectEdge, and it did not matter if the stocks were Nasdaq, AMEX, or NYSE.
DirectEdge was an ECN at the time, and has since become the 4th largest exchange, so the rules may have changed. You may also want to contact the BATS exchange, or the best way is just to ask the prop firms directly if they allow for odd lots. You may find exceptions if a prop firm accepts odd lots for Nasdaq stocks, but it's doubtful on NYSE stocks. Of course, as a retail trader, you can place whatever size trade you want for any stock.
The only exception I've noticed where you must trade in round lots even for retail is for the ETFs issued by "Holdrs", as described here:
http://www.holdrs.com/holdrs/main/index.asp?Action=FAQ
Best of luck...
so for you all compliance officers...what rule book do you follow regarding how the prop firm operate? what allow and what not allow? Direct Edge and Bats Exchanges have no problem dealing with Odd Lot..I can pull up NYSE odd lot rules..which is no longer differentiate between odd lot and standard lot.....but why is it a problem with Prop firm using odd lot....I would like to see the reference for Odd Lot Rule please point me to right place.