What is SG odd lot trading?
The standard trading unit of the Singapore Exchange (SGX) is 1 lot (usually 100 shares, with some exceptions). Odd-lot trading refers to stock trading where the quantity is less than a board lot. SGX has a dedicated Odd-Lot Trading Market (Unit Share Market) to support investors in buying and selling stocks in quantities less than a board lot.
Does Tiger support SG odd lot trading?
Yes. You can select stocks in the Singapore market on the Tiger Trade App. DLCs/bonds/ETFs do not currently support Odd Lot trading. When placing an order, select "LMT (Odd Lots)", enter the price and quantity, and then submit the order.
What is the fee standard for odd lot trading?
Odd lot trades are subject to the same fees as board lot trades, with no additional charges. Please refer to the Tiger Fee Schedule for specific rates.
What order types are supported for odd lot trading?
Odd lot trading only supports Limit order type. Orders can be modified and cancelled after submission.
What are the trading hours for odd lot trading?
Odd lots are only tradable during SGX's continuous trading hours:
Morning: 9:00 – 12:00
Afternoon: 13:00 – 17:00
Odd lots do not participate in the pre-opening auction, lunchtime auction, and closing auction sessions.
Can odd lots and board lots be combined in a single order?
No. Odd lot and board lot orders must be placed separately. The quantity of odd lot orders must be less than one board lot (between 1 to 99 shares for securities with a board lot size of 100 shares).
Can I break up board lot to trade odd lot?
Yes. If you only have 1 board lot (100 shares) , you can break it up and sell odd lot at 35 shares . Or if you have 145 shares , you can sell odd lot 75 shares , and left with 70 shares odd lot.
What Time-in-Forces are supported for odd lot trading?
Only Day order or FOK (Fill or kill) order is supported for SG odd lot. GTC/GTD is not supported at this moment.
Why hasn't the odd lot order been executed?
The liquidity and trading volume of the odd lot market is lower than those of the board lot market. If there is no matching bid or ask volume, your order may not be executed immediately. So:
When buying, the price can be set slightly higher than the current odd lot market price.
When selling, the price can be set slightly lower than the current odd lot market price.
Does Tiger support the transfer in and out of odd lots?
Yes. Odd lot positions can be transferred in and out via the stock transfer function.
What is the settlement cycle for odd lot trading?
Consistent with the board lot market, it follows the T+2 settlement arrangement.
Risks of odd lot trading
Due to the insufficient liquidity in the odd lot market, the buying price of odd lots may be higher than the market price of board lots, and the selling price may be lower than the market price of board lots. The actual execution price of odd lot trades may differ from the price you expect. Your odd lot orders may not be executed in a timely manner, or may not be executed at all under certain circumstances. Even if board lot trades of the same stock have sufficient liquidity, odd lot trades may still face liquidity shortages.
Under extreme market conditions or in securities with particularly low liquidity, the deviation between the execution price of odd lots and the market price of board lots at the same time may far exceed normal levels. Due to the limited depth of the odd lot market's order book, a single odd lot order may significantly drive the price away from the reasonable price level of the board lot market. Investors should compare the real-time quotes of the board lot market before placing orders, fully assess the potential risk of price deviation, and avoid executing trades at prices that deviate significantly from the market's fair value.