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Definition

Also called a "round lot", this is the number of shares which is normally traded. On the JSE the marketable lot is 100 shares - as it is for most markets around the world. A few markets have marketable lots of 10 shares or 1000 shares. Generally, an odd lot will attract higher dealing costs than a marketable lot although with the advent of dematerialisation this additional cost has largely fallen away. Odd lots can arise from corporate actions such as scrip dividends or acquisitions. Private investors with limited funds may buy an odd lot of very expensive shares because they cannot afford a round lot.

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