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Non-Tech : Datek Brokerage $9.95 a trade
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To: Dirk Hente who wrote (8675)5/26/1998 8:00:00 AM
From: pae  Read Replies (1) of 16892
 
odd lot shares are rounded and aggregated

Is this the mysterious time lag after partial execution? Also noting from Risberg that odd-lots are not subject to the rule about representation. So if you get partially executed, your remaining order becomes an odd-lot (which might be but is not required to be represented to the market) and then might be aggregated. Does anyone know if aggregation is a manual process or a computer process? If it is a computer process is it periodic or continuous? Whatever it is, it clearly includes a time lag, perhaps only to wait for total odd-lots at a particular price to accrue to a whole lot and therefore be worth aggregating. What status does the remaining order show while awaiting aggregation? A different status then while being aggregated? What time priority does the aggregated order possess? Time of aggregation or oldest component order or youngest component order? Any additional light to shed on the darkness following a partial execution?

Good aggregating!
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