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

[ToushiTime]

Hi, I placed an order to sell odd-lot shares, i.e. an amount less than the minimum trading unit, after the stock market closed today.

The SBI site says it will use the smart order routing to decide whether to place the order on the stock market or the proprietary trading system.
https://search.sbisec.co.jp/v2/popwin/a ... ck_14.html

Unlike with regular trades, I couldn't set a limit order.

The order records in my account it say the 約定日 could be Nov 2 today until Nov 6, Monday.

When is the trade likely to be placed?

[Tsumitate Wrestler]

Hi, I placed an order to sell 単元株 minimum trading units after the stock market closed today.

The SBI site says it will use the smart order routing to decide whether to place the order on the stock market or the proprietary trading system.
https://search.sbisec.co.jp/v2/popwin/a ... ck_14.html

Unlike with regular trades, I couldn't set a limit order.

The order records in my account it say the 約定日 could be Nov 2 today until Nov 6, Monday.

When is the trade likely to be placed?

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.

When is the trade likely to be placed?

Depends on a lot of things. What is the ticker? What is the trading volume?

[ToushiTime]

Thanks, I cancelled the order for the time being.

The ticker is 4661.
I want to sell 20 shares and the minimum trading unit is 100 shares.
The market trading volume for this stock is 42,755,799,000 yen.

If I wait until Monday morning trading hours, would my trade be on the stock market, and what determines that?

How exactly are odd-lot shares traded during and outside trading hours, given that they are smaller than the minimum trading unit?

Is SBI Holdings a market maker, which I think means it holds securities itself, or does it pair me up with some other investor wanting to buy odd-lot shares?

[Tsumitate Wrestler]

Thanks, I cancelled the order for the time being.

The ticker is 4661.
I want to sell 20 shares and the minimum trading unit is 100 shares.
The market trading volume for this stock is 42,755,799,000 yen.

If I wait until Monday morning trading hours, would my trade be on the stock market, and what determines that?

How exactly are odd-lot shares traded during and outside trading hours, given that they are smaller than the minimum trading unit?

Is SBI Holdings a market maker, which I think means it holds securities itself, or does it pair me up with some other investor wanting to buy odd-lot shares?

oh I see. You have limited options. SBI does not have live oddlot trading, Rakuten does for some tickers. SBI has market order 3 times a day during trading hours.

Tomorrow is a trading day despite the holiday I think.

Consider that you are limit your option for the remaining 80 shares as well.

[Tkydon]

For individual stocks, the price is set when the order is filled, but settlement will take a couple of business days to complete before the shares (buy) or money (sell) actually arrive in your account.

[Tsumitate Wrestler]

For individual stocks, the price is set when the order is filled, but settlement will take a couple of business days to complete before the shares (buy) or money (sell) actually arrive in your account.

Odd lots have their own specific rules that are different depending on brokerages. Rakuten currently has a superior system that allows live trading of some offerings.

[ToushiTime]

Thanks. I did a bit more digging and found this https://search.sbisec.co.jp/v2/popwin/a ... ck_07.html
It looks like you get whatever the price is at the start of morning trading or the start of afternoon trading or the start of the next day’s trading, depending on when you place your order.

[ToushiTime]

Rakuten currently has a superior system that allows live trading of some offerings.

Thanks. That’s good to know.

[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.

[ToushiTime]

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.