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PBD10017
PBD10017
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This is important in price discovery and pricing of bonds based on trades. "Odd" lots are traded at lower prices than "round" lots. However I wasn't able to find a definition of "odd" lot anywhere. For equity shares it's lots of multiples other than 100. I found one by fidelity odd lot = number of bonds different from 100 and one by capital IQ, trades below $1 million.

This is important in price discovery and pricing of bonds based on trades. "Odd" lots are traded at lower prices than "round" lots. However I wasn't able to find a definition of "odd" lot anywhere. For equity shares it's lots of multiples other than 100.

This is important in price discovery and pricing of bonds based on trades. "Odd" lots are traded at lower prices than "round" lots. However I wasn't able to find a definition of "odd" lot anywhere. For equity shares it's lots of multiples other than 100. I found one by fidelity odd lot = number of bonds different from 100 and one by capital IQ, trades below $1 million.

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PBD10017
PBD10017
  • 623
  • 2
  • 11
  • 17

What constitutes an "odd lot" in corporate bonds trades?

This is important in price discovery and pricing of bonds based on trades. "Odd" lots are traded at lower prices than "round" lots. However I wasn't able to find a definition of "odd" lot anywhere. For equity shares it's lots of multiples other than 100.