round lot

A round lot (or board lot) is a normal unit of trading of a security, which is usually 100 shares of stock in US.Investopedia definition of [http://www.investopedia.com/terms/r/roundlot.asp round lot] Each stock exchange has its own regulations regarding round lot sizes: they can range anywhere from 1-100 shares, depending on the exchange.{{cite web|url=http://www.convergex.com/uploads/The_Traders_Guide_to_Global_Equity_Markets_Q2_2016.pdf |title=Traders' Guide to Global Equity Markets|publisher=Convergex}} Any quantity less than this normal unit is referred to as an odd lot.