Selling 単元未満株 odd-lot shares out of hours

[Tsumitate Wrestler]

As oddlots are sold through individual dark pools, it is best not to trade them if you can. Stick to full lots.

You want your securities to be liquid, and not locked to a proprietary system.

This is the bit I don’t get. If they are traded in dark pools/via proprietary trading, why do I have to wait for the regular stock market to open to get a price?

FYI this is the only oddlot I have.

How do you make a full lot? By waiting for another group of odd lots and smashing them together. Or by finding an order for an odd-lot and filling it with the matching sell.

They need to wait for the order book to fill, then they match the trades.

They make money off the difference.

[Deep Blue]

A market order outside of trading hours is a dangerous thing. It can even be dangerous during market hours. If there is one trader with a lowball automatic order set, you will be matched and the order will be filled. I would never do this.

This is not how the system works. You need one trader with a lowball offer AND a completely empty buy order book. This is a large cap liquid name that trades in large volumes, so the scenario you outline is not going to happen.

[Deep Blue]

This is the bit I don’t get. If they are traded in dark pools/via proprietary trading, why do I have to wait for the regular stock market to open to get a price?

FYI this is the only oddlot I have.

Dark pools don't operate 24/7 - usually they run alongside regular exchange hours. Not many institutional investors intererested in trading Japanese equities outside of regular hours.

[ToushiTime]

Thanks, I don't plan on increasing my odd lot holding to the 単元 minimum trading amount.
I just want to sell it for various reasons.

I now have to decide whether to

a) place the odd lot sell order now to get the morning opening price at 9am Monday
b) place it during 9am to 11:30am morning trading on Monday to get the afternoon opening price at 12:30pm
c) place it after 3pm on Monday to get the opening price at 9am on Tuesday

https://search.sbisec.co.jp/v2/popwin/a ... ck_07.html

Given that this is a pretty big stock, with heavy trading volume, is there no dark pool trading going on over the weekend?

I am wondering whether to go for the Monday morning opening price or the Monday afternoon opening price.

[Tsumitate Wrestler]

A market order outside of trading hours is a dangerous thing. It can even be dangerous during market hours. If there is one trader with a lowball automatic order set, you will be matched and the order will be filled. I would never do this.

This is not how the system works. You need one trader with a lowball offer AND a completely empty buy order book. This is a large cap liquid name that trades in large volumes, so the scenario you outline is not going to happen.

He posted the ticker after, so it was definitely a possibility. Lots of Americans seem to get burned with market order through Robinhood and the like. Options are specifically dangerous as well for this

[Tsumitate Wrestler]

This is the bit I don’t get. If they are traded in dark pools/via proprietary trading, why do I have to wait for the regular stock market to open to get a price?

FYI this is the only oddlot I have.

Dark pools don't operate 24/7 - usually they run alongside regular exchange hours. Not many institutional investors intererested in trading Japanese equities outside of regular hours.

Some due. SBI has a system that operates outside of market hours.

In Japan, MooMoo has American securities outside of market hours. Almost 24 hours I believe with some offerings?

[captainspoke]

...Lots of Americans seem to get burned with market order through Robinhood and the like. ...

I wouldn't touch robinhood even with the proverbial ten foot pole. They were in the news a few years ago due to their shady trading practices, earning 'commissions' from the market makers that they dealt with. And they don't offer mutual funds--something about the way MFs are priced doesn't fit with their business model.

[ToushiTime]

SBI has a system that operates outside of market hours.

So in the case of minimum trading units, not oddlots, the stock in question is traded over the weekend in SBI's dark pools and other dark pools?

Based on the link I posted above, SBI has two price-setting points per day for oddlots: one at 9am and one at 12:30pm.

Given the three-day holiday, is there more of a risk of the share price opening sharply down on Monday at 9am than of it falling 1 second after 12:30pm after just one hour's lunch break, as there has been less time for invisible off-exchange trading?

Of course, anything can happen in one hour, but that's a lot shorter than 72 hours, so I am tempted to just go for the afternoon opening price.

It's not a major issue for me. I am just curious how these systems work.

[Deep Blue]

Dark pools don’t operate over the weekend.

It’s impossible to predict whether you will receive a better price at the morning open or the afternoon open.

[Tsumitate Wrestler]

SBI has a system that operates outside of market hours.

So in the case of minimum trading units, not oddlots, the stock in question is traded over the weekend in SBI's dark pools and other dark pools?

Based on the link I posted above, SBI has two price-setting points per day for oddlots: one at 9am and one at 12:30pm.

Given the three-day holiday, is there more of a risk of the share price opening sharply down on Monday at 9am than of it falling 1 second after 12:30pm after just one hour's lunch break, as there has been less time for invisible off-exchange trading?

Of course, anything can happen in one hour, but that's a lot shorter than 72 hours, so I am tempted to just go for the afternoon opening price.

It's not a major issue for me. I am just curious how these systems work.

https://www.sbisec.co.jp/ETGate/WPLETmg ... 70623.html

I've never used it. It seems interesting though.