a quantity or amount less than the conventional unit of trading.
2.
Stock Exchange. (in a transaction) a quantity of stock less than the established 100-share unit for active issues or the 10-share unit for designated inactive issues.
A unit of trading in securities that is made up of fewer than 100 shares of stock or $25,000 face amount of bonds. Compare round lot. Also called lot. See also effective sale, on-the-quotation order.
