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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.01-0.3%Nov 14 9:30 AM EST
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To: DOUG H who wrote (27072)4/15/1999 8:15:00 AM
From: Art Bechhoefer  Read Replies (1) of 152472
 
Round lots are more important for purchases on the New York Stock Exchange. NYSE uses a specialist system, and the prices you see quoted are for round lots. Odd lot transactions force the buyer to pay 1/4 point more and the seller to receive 1/4 point less. On NASDAQ, however, there is a different system for trading, which makes no distinction in the number of shares traded. Thus, what you pay for 32 shares, for example, should be the same as you would have paid for 100 shares, in terms of price per share. The commission on small purchases, however, may be considerably higher in percentage terms. Still, people like to think in round numbers, so they are more likely to want to buy 100 shares than 32. Art
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