HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: OT: Buys/Sells of non-Board Lots

A random question:

Let's say that right now, after hours, the bid is at 33.5 and the ask is at 37.5 (which it is). Those orders, and all other outstanding orders, are obviously Price Limits rather than Market orders. Further, assume that between now and tomorrow night, no new orders are put into place other than what I am about to describe.

Let's say that I put in a sell order for say, 20,000 shares at 37.0 cents, so I'm the first order to get filled. Incidentally, I have no intention of selling any of my Noront shares at the present time. This is simply a hypothetical question about buys and sells, not about Noront.

Finally, let's say that someone puts in a buy order for 20 shares. Just twenty. Not even close to a board lot. And let's assume that this is a Market order.

Will the exchange break one of my board lots to fill that order? I assume that they must need to.

I've been trading for about 18 years, and have never really thought about this type of situation. I mainly trade in penny stocks (or stocks that turn into penny stocks) so it's usually common for most trades to be in board lots. But I notice that today's volume on Debut was only 20 shares (at 1 cents a share, or a grand total volume of twenty cents for the day), and that's what got me thinking about this situation. I always avoid buying or selling less than even board lots, but I suspect that it might be possible for someone to end up with a broken lot because of the way that trades are facilitated.

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