| 释义 |
effective sale Effective saleA sale based on the most recent round-lot price, which determines the price of the next odd lot. The difference created between the last round-lot price and the odd-lot price is referred to as the odd-lot differential.Effective SaleThe sale of a round lot (100 shares) of a security that determines the price of an odd lot trade. Thus, the effective sale is the first trade that takes place after a specialist receives an odd lot order.effective sale The trade that determines the price for an odd-lot order. For odd-lot market orders, the effective sale is the first trade following the specialist's receipt of the odd-lot order. For an odd-lot limit order, the effective sale is the trade that permits an odd-lot differential. See also electing sale. |