What is Board Lot?

What is Board Lot?

Board Lot

Each stock may trade at different minimum lot sizes controlled by its price. This minimum lot size is called a Board Lot (see table below). If a stock's board lot is 1,000 then that is the minimum amount of shares that can be bought and any mount above this should also be traded in scales of 1,000. Thus an order to buy a stock with a board lot of 1,000 will reject an order to buy 1,500 and 3,200; but will accept 1,000, 2,000, 5,000 and above as long as it is wholly divisible by 1,000 and not leave any partial lots.

Any amount of shares not wholly divisible by a minimum board lot is considered an Odd lot. Odd lots are traded at an Odd Lot board which are usually illiquidly traded and often at a discount to the stocks market price. You can enter odd lot orders by choosing the ODDLOT button on the order details box. Please note that odd lot orders can only be DAY orders, not GTC or ATC orders, which means you'll have to place your odd lot sell order again the next day if it is not matched today.


*The table below identifies the Board Lot size based on stock price and the corresponding tick sizes. 

Example:

 

So If JFC is at 102.90.

The board Lot would be at 100 to 199.99 and the minimum order is 10.