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The Ultimate Guide To Selling Odd Lot Shares

How To Sell Odd Lot Shares SGX

Last updated on June 16th, 2021

You’ve just received some odd lot shares via a share dividend. However, the minimum lot size for a stock listed on the SGX is 100!

So how do you go about selling these odd lots that you own?

Here’s a guide to get your started:

How to sell odd lot shares on SGX

SGX has a Unit Share Market that allows you to sell any odd lots which are less than the minimum lot size. This is done through various brokers that allow you to trade in the SGX.

For Singtel shares, there is actually a Singtel 10 share. This allows you to trade in multiples of 10 instead of multiples of 100!

Here is a summary table of how you can sell odd lot shares on the SGX using the various brokers:

BrokerMethod of
Trading
Fees
POEMSOnline0.28% (Min $25)
OCBC SecuritiesOnline0.275% (Min $25)
DBS VickersPhone only0.375% (Min $40)
FSMOnePhone onlyPhone Brokerage Rates
Lim & Tan SecuritiesOnline0.266% (Min $25)
UTRADEOnline0.275% (Min $25)
Standard CharteredOnline0.25% (Min $10)

Some brokers that allow you to trade in the SGX like Tiger Brokers do not offer this feature.

Here is an explanation of how you can sell your odd lots with each specific broker:

How to sell odd lot shares on POEMS

Here’s what you need to do to sell your odd lot shares on POEMS:

  1. Go to the price widget on POEMS 2.0
  2. Right click on the stock that you wish to trade odd lots
  3. Go to ‘Trade Unit Share’
  4. Enter the price and the quantity (< 100 units) that you wish to trade

Here is a pictorial depiction of how you can use POEMS to buy or sell odd lots. First, you’ll need to go to the price tab of POEMS 2.0.

POEMS 2.0 Price Widget

Do make sure that you select SGX as your market!

After that, you’ll need to right click the stock that you wish to trade in odd lots, and select ‘Trade Unit Share‘.

POEMS 2.0 Trade Unit Share

You will be brought to a page where you can enter the price and quantity you wish to buy or sell:

POEMS 2.0 Trade Unit Share 2

You can only buy odd lots that are less than 100 units! If you wish to buy more than 100 units, you will need to make 2 separate trades.

After making the trade order, you will need to wait until it is fulfilled.

Commissions charged by POEMS

Here are the fees that you’ll need to pay when you want to trade via the Unit Share Market:

Trade CommissionMinimum Amount
0.28%$25

The fees that are being charged are similar to the normal commissions charged by POEMS. However, POEMS has a Cash Plus account which charges much lower fees.

The minimum amount of $25 is pretty hefty, especially if you’re only trading a few odd lots. As such, you’ll need to determine if it is worth the fees to sell your odd lots!

How to sell odd lot shares on OCBC

Here’s what you need to do to sell your odd lot shares on OCBC Securities:

  1. Go to the ‘Market Information’ page
  2. Select ‘SGX Unit Market’
  3. Select the stock you wish to buy
  4. Select the quantity and price

Again, you can only purchase units on the Unit Share Market which are less than the minimum lot size.

Commissions charged by OCBC Securities

Here are the trading commissions you’ll need to pay when trading odd lots on OCBC Securities:

Trade CommissionMinimum Amount
0.275%$25

How to sell odd lot shares on DBS Vickers

DBS Vickers does not allow you to place Odd Lot orders via the online platform. You can only place these orders by phone.

Commissions charged by DBS Vickers

If you want to place an odd lot order with DBS Vickers, you will be charged the phone brokerage rates.

Trade CommissionMinimum Amount
0.375%$40

This is much more expensive compared to POEMS and OCBC Securities!

How to sell odd lot shares on FSMOne

FSMOne does not allow you to place Odd Lot orders via the online platform. You can only place these orders through FSMOne’s Trading Representatives via their service hotline (+65 6557-2853).

To sell your odd lots with FSMOne, here are the 4 details you’ll need to give the Trading Representative:

  1. Your Investment Account Number
  2. The Security Code and Name that you wish to sell
  3. The number of odd lots that you wish to sell
  4. The Limit Price that you wish to sell at

Commissions charged by FSMOne

If you want to place an odd lot order with FSMOne, you will be charged the phone brokerage rates.

This will most likely be more expensive compared to the fees you incur when trading on FSMOne’s online platform.

How to sell odd lot shares on Lim & Tan Securities

Here’s what you need to do to sell your odd lot shares on Lim & Tan Securities:

  1. Click on the ‘Market’ drop-down menu
  2. Select ‘SGX UnitShare’
  3. Select the stock you wish to trade odd lots
  4. Select your intended price and quantity

Again, you can only purchase units on the Unit Share Market which are less than the minimum lot size.

Commissions charged by Lim & Tan Securities

Here are the trading commissions you’ll need to pay when trading odd lots on Lim & Tan Securities:

Trade CommissionMinimum Amount
0.266%$25

How to sell odd lot shares on UTRADE

Here’s what you need to do to sell your odd lot shares on UTRADE:

  1. Click on the ‘Market’ drop-down menu
  2. Select ‘SGX UnitShare’
  3. Select the stock you wish to trade odd lots
  4. Select your intended price and quantity

Commissions charged by UTRADE

Here are the trading commissions you’ll need to pay when trading odd lots on UTRADE:

Trade CommissionMinimum Amount
0.275%$25

You are able to make a trade with your phone representative as well. However, this may be slightly more expensive compared to trading online.

How to sell odd lot shares on Standard Chartered

You can sell your odd lots on Standard Chartered’s Online Trading Platform. You’ll have to select trading on the SGXO (Singapore SE Odd Lot).

The SGXO market is separate from the SGX market, where you can buy Odd Lot shares directly.

Sell Odd Lot Shares SGX Standard Chartered 1

You can select the stock from the list, or you can search it manually.

Here are some things you’ll need to take note of when making a trade in the odd lot market:

  1. The ticker has to be SGXO
  2. The order quantity has to be 1, to a maximum of 99 units
Sell Odd Lot Shares SGX Standard Chartered Order

Stop Loss orders and Good-Till-Date (GTD) orders are not available for SGX Odd Lot market.

Commissions charged by Standard Chartered

Here are the trading commissions you’ll need to pay when trading odd lots on Standard Chartered:

Trade CommissionMinimum Amount
0.20%$10

Standard Chartered’s rates seem to be the cheapest among the different brokers!

You are able to place a trade via Standard Chartered’s phone dealers as well. However, the rates will be higher than the online rates!

Problems you may face when trading in the Unit Share Market

While you are able to trade your odd lots, here are some problems you may face:

#1 The price you obtain may differ from the market price

The price that you eventually sell your odd lots may be lower than the current market price.

This is because the demand for these odd lots are much lower compared to the standard lot sizes that are available on the SGX.

One thing that you may want to note is that the Unit Share Market is separate from the SGX. As such, the prices may differ between these 2 markets.

#2 You may not be able to fulfil your order

When you want to sell off your odd lot shares, you will have to find a buyer who wants to buy it first.

Due to the low demand in the Unit Share Market, there may not be a buyer available who wants to purchase your odd lots!

This was also acknowledged by the MAS that it is hard to find an exact match between buyers and sellers of odd numbers of shares.

As such, your order may be only partially filled.

For example, you are looking to sell 17 shares at $1.

There is only one buyer available in the market who only wants to buy 10 shares.

As such, you will still have 7 shares remaining.

The SGX Unit Share Market lacks the same liquidity compared to the NYSE or NASDAQ. One of the reasons is due to the US markets having a much higher trading volume.

As such, OCBC Securities suggests that you should buy or sell directly based on the best available price. If not, your order may remain queued and it may not be fulfilled!

Conclusion

There are 6 brokers which allow you to sell your odd lot shares in the SGX. 4 of them allow you trade them online, while FSMOne and DBS Vickers only allow you to trade odd lots with a phone broker.

When you want to sell off your odd lots, you may want to take note of the commissions you’ll pay. All of these brokers charge a minimum commission, which is the same when you make a normal trade.

Since you can only sell a maximum of 99 units, the fees may not be really worth it!

Another consideration is the lower liquidity in the Unit Shares Market. You may not fulfil your order due to the lower trading volume. Moreover, the price that you trade your units may not be the same as the market price.

As such, you’ll need to consider these pointers first before you decide to sell off your odd lots!

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