what is a round lot 
a round lot refers to a standard trading order of securities round lots can consist of 100 or any multiple of 100 units of securities lots are traded on exchanges and are made up of any type of security including stocks and bonds in stocks a round lot is considered 100 shares or a larger number that can be evenly divided by 100 in bonds a round lot is usually 100 000 worth a round lot is often referred to as a normal trading unit and is contrasted with an odd lot 