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Board Lot |
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Board Lot A standardized number of shares defined by a stock exchange as a trading unit. In most cases, this means 100 shares. The purpose of a board lot is to avoid "odd lots" and to facilitate easier trading. It's more difficult for a broker to find a buyer for, say, 17 shares, than if everybody agrees to trade in 100 share lots. Notes: For example, a stock exchange might define one board lot as equaling 1,000 shares for stock priced under $1, and 100 shares for shares of more than $1. The thinking is that standardization increases liquidity thus lowering spreads and making the market more efficient for everybody.
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? Mentioned in | ? References in periodicals archive | |
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A total of 9,000 debentures, each in the principal amount of USD 1,100, will be listed and will trade, in USD, in a board lot size of one USD 1,100 debenture. The increase in liquidity of shares and the related reduction in the board lot cost of our shares will likely benefit both institutional shareholders and the significant number of retail shareholders who have been long-term investors in Fortis," says Marshall. Shares purchased pursuant to the Normal Course Issuer Bid by the Company will be acquired at a price that is not higher than the last independent trade of a board lot of common shares of the Company. |
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Board Lot
