An order to buy or sell fewer than 100 shares of a security. Most securities are traded in sets of 100, which are called round lots. An odd lot order may be difficult to fill because, for example, a broker trying to buy 36 shares may have a hard time finding another broker selling 36 shares or one selling 100 shares who is willing to partially fill the order with those 36. See also: Odd-lotter.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved