What is a round lot, odd lot, and mixed lot?
A round lot is the standard trading unit for a security or asset. The round lot size denotes the number of shares that represent around lot for the issue. 100 shares of a security is typically referred to as a round lot, however, there are cases in which securities trade in round lots of 10 or even 1.
Odd-lots are orders for shares less than the applicable round lot.
Mixed lots are orders for shares greater than a round lot, but not divisible by a round lot. Example Below:Company ABC trade in round lots of 100. Order for 105 shares would be a mixed lot.Company XYZ trade in round lots of 10. Order for 15 shares would be a mixed lot.