how do you call the minimum quantity to be traded on an exchange?

English translation: unit of trading

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01:05 Oct 23, 2005
English to English translations [PRO]
Bus/Financial - Finance (general) / commodity exchange
English term or phrase: how do you call the minimum quantity to be traded on an exchange?
I am looking for the correct English expression for the "lot size" to be traded on a commodity exchange - such as, a minimum of 100 tons of wheat and its multiples - "basic amount/ quantity"?

TIA, Eva
Eva Blanar
Hungary
Local time: 22:48
English translation:unit of trading
Explanation:

Unit of Trading
Number of shares, bonds, or commodities that is considered the normal unit of trading on an exchange. For stocks, it is usually a round lot (100 shares). For corporate bonds, it is usually $1,000 or $5,0000 par value. *****Commodities do not have a set unit--it varies depending upon the actual commodity. *****

Unit
1: Number of shares, bonds, or commodities that is considered the normal unit of trading on an exchange.

Odd Lot
Any number of shares traded that is less than its normal trading unit (round lot). Typically, an odd lot is 1 to 99 shares with a round lot being multiples of 100 shares. However, certain inactive stocks have round lots of 10 shares, with odd lots being 1 to 9 shares.

Round Lot
A standard unit of trading, or a multiple thereof, on a securities exchange. Generally, the unit of trading is 100 shares for stock and $1,000 or $5000 par value for bonds. In some inactive stocks, the unit of trading is 10 shares.

http://www.americancentury.com/servlet/GlossaryManager/acb.a...

Hope this helps.

Selected response from:

Elizabeth Rudin
United Kingdom
Local time: 21:48
Grading comment
Thanks a lot to all of you, I think I'll offer the client an alternative: it seems the different exchanges use different names...
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3unit of trading
Elizabeth Rudin
5Trade Unit
Charlesp
5contract
Charlesp
4minimum lot size
Marian Greenfield
3Thay depends on what is being traded. E.g. for petrol...
Anna Maria Augustine at proZ.com
1Minimum Quantity
fareedeh ghassemi


Discussion entries: 4





  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Thay depends on what is being traded. E.g. for petrol...


Explanation:
it would be barrel

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Note added at 14 mins (2005-10-23 01:19:23 GMT)
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minimum transaction unit

Anna Maria Augustine at proZ.com
France
Local time: 22:48
Works in field
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
PRO pts in category: 24
Grading comment
No, thanks, that must be some general term for all commodities on a commodity exchange. Thanks anyway.
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The asker has declined this answer
Comment: No, thanks, that must be some general term for all commodities on a commodity exchange. Thanks anyway.

4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +3
unit of trading


Explanation:

Unit of Trading
Number of shares, bonds, or commodities that is considered the normal unit of trading on an exchange. For stocks, it is usually a round lot (100 shares). For corporate bonds, it is usually $1,000 or $5,0000 par value. *****Commodities do not have a set unit--it varies depending upon the actual commodity. *****

Unit
1: Number of shares, bonds, or commodities that is considered the normal unit of trading on an exchange.

Odd Lot
Any number of shares traded that is less than its normal trading unit (round lot). Typically, an odd lot is 1 to 99 shares with a round lot being multiples of 100 shares. However, certain inactive stocks have round lots of 10 shares, with odd lots being 1 to 9 shares.

Round Lot
A standard unit of trading, or a multiple thereof, on a securities exchange. Generally, the unit of trading is 100 shares for stock and $1,000 or $5000 par value for bonds. In some inactive stocks, the unit of trading is 10 shares.

http://www.americancentury.com/servlet/GlossaryManager/acb.a...

Hope this helps.



Elizabeth Rudin
United Kingdom
Local time: 21:48
Native speaker of: Native in HungarianHungarian, Native in RomanianRomanian
PRO pts in category: 12
Grading comment
Thanks a lot to all of you, I think I'll offer the client an alternative: it seems the different exchanges use different names...

Peer comments on this answer (and responses from the answerer)
agree  Ralf Lemster: or "lot"
2 hrs
  -> Thank you, Ralf.

agree  Dave Calderhead
2 hrs
  -> Thank you, Dave.

neutral  Charlesp: that is what this dictionary says, but it is not exactly accurate to include commodities in this definition. For commodites it is called "Trade Unit".
2 hrs
  -> Thank you, Charles.

agree  Cristina Chaplin: it is true - they are trade units :)
5 days
  -> Thank you, awana.
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6 hrs   confidence: Answerer confidence 5/5
contract


Explanation:
In commodity futures trading, the "lot size" as you refer to it, is called a "contract", eg "five contracts..."

Charlesp
Sweden
Local time: 22:48
Specializes in field
Native speaker of: English
PRO pts in category: 24
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13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
minimum lot size


Explanation:
Exchange Traded Funds ------- Tradable Funds
Exchange traded funds (ETFs) also commonly known as index shares is a hybrid ...
The minimum lot size is one unit, which is approximately 1/100th of the ...
www.indiainfoline.com/nevi/exch.html - 49k - Cached - Similar pages

outlookmoney.com: Changing Face
... as the Securities and Exchange Board of India (Sebi) has decided to tinker
... It has permitted both NSE and BSE to bring down the minimum lot size of ...
www.outlookmoney.com/scripts/IIH021C1.asp?articleid=4850& sectionid=1&categoryid=16&NoCache=10... - 80k - Cached - Similar pages

FAQs
The minimum lot size of Exchange Fund Notes is HK$50000. Tenders above this
minimum must be in integral multiples of HK$50000. When will holders of Exchange ...
www.info.gov.hk/hkma/eng/efn/faq_b.htm - 37k - Cached - Similar pages

Marian Greenfield
Local time: 16:48
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 42

Peer comments on this answer (and responses from the answerer)
neutral  Charlesp: I'd be careful using the term "lot size" - it has a different meaning in ordinary usage (the size in acres, or square feet/meters, of the land portion of a property.
2 hrs
  -> indeed; but Eva asked for market jargon and lot size is indeed market jargon
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19 hrs   confidence: Answerer confidence 5/5
Trade Unit


Explanation:
The term used to refer to the quantity (which varies) for each Commodity future (or Index) contract.
See eg: http://www.cme.com/clearing/clr/spec/contract_specifications...



Charlesp
Sweden
Local time: 22:48
Specializes in field
Native speaker of: English
PRO pts in category: 24
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
Minimum Quantity


Explanation:
Minimum Quantity: 25 (Multiples of 25) Maximum Quantity: 500 ...
shop.usps.com/cgi-bin/vsbv/postal_store_non_ssl/ display_products/productCategory.jsp?prodCat=/Shi...

MARINE GAS OIL. TANK TRUCK (TT) DELIVERY. MINIMUM QUANTITY PER www.desc.dla.mil/DCM/Files/ Amd%200005%2003-R-0013%201.3B_1.rtf

Basic amount and basic quantity are not applicable:
The Increased Price Basic Amount (previously the Increased Basic Amount) is calculated based on changes in the general price level, in accordance with the ...
www.scb.se/templates/tableOrChart____33890.asp

Base Period Year 1 - Basic Quantity. ii. Base Period Year 1 - One Option Quantity
... Option Period I - Basic Quantity + Total Optional Quantities ...
www.epa.gov/oamsrpod/pmrcsc/0410547/attachment7.pdf





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Note added at 11 hrs 14 mins (2005-10-23 12:19:22 GMT)
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MINIMUM LOT SIZE: The minimum size of property that is allowed for an independent parcel under a zoning by-law or ordinance provision.
www.foreclosure4sale.com/Glossary.asp?gid=1278
I found also "batch size" but I don't know is it helpful or not.
Hope you find better answers.

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Note added at 1 day 3 hrs 54 mins (2005-10-24 04:59:12 GMT)
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You can also check :
TraceTracker Traceability Glossary (PDF)
... If a basic trade unit could be split into smaller www.tracetracker.com/cgi/doc.cgi?id=6
A Traceable Entity is either a Batch or a Trade Unit, or a variation of these two basic types.


fareedeh ghassemi
Local time: 01:18
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