lot

A unit of trading (used to describe a designated number of contracts). For example, a trade quantity of one equals a "one lot;" a trade quantity of four equals a "four lot." Also called cars. Chicago Mercantile Exchange Glossary

————

Another term for a contract. Dresdner Kleinwort Wasserstein financial glossary

* * *

lot lot [lɒt ǁ lɑːt] noun [countable]

1. COMMERCE something that is sold at an auction, especially a group of things that are sold together:

• The auction was a record sell-out, with all but two of 111 lots sold for a total of £6.3 million.

ˌjob ˈlot COMMERCE

a mixed group of things that are sold together:

• He bought a job lot of washing machines for £2000.

2. FINANCE a group of shares that are sold together

ˌround ˈlot FINANCE

a number of shares used as a standard unit when buying or selling shares on a stockmarket:

• Orders must be round lots of at least 100 shares.

3. MANUFACTURING a quantity of goods that is produced at the same time or sold together as a group:

• Batch production is the production of standardised units in small or large lots.

4. especially AmE PROPERTY an area of land, especially one used for building on:

• a car lot

ˌvacant ˈlot PROPERTY

an area of land on which nothing has been built and which may be available to rent, buy, or build on:

• The city's vacant lots are cluttered with old trucks and farm machinery.

* * *

lot UK US /lɒt/ noun [C]

► COMMERCE in an auction (= a sale of goods or property to the person who offers the most money), an object or set of objects that are being sold: »

Lot 57 is a mahogany work desk. Do I have a bid?

► PRODUCTION an amount or set of goods that is produced at the same time or sold together: »

The manufacturer sells to a wholesaler or agent, who sells in smaller lots to other customers.

»

Ingredients should be clearly listed on the manufacturer's label with the lot number and the date of expiration.

► PROPERTY an area of land used for a particular purpose: a building/vacant lot »

We have residential and commercial building lots and acreage for sale.

»

a parking lot

► STOCK MARKET an amount of shares that is sold together: »

The Stock Exchange asked companies to reduce the smallest traded lot of shares to 100 from 1,000.

→ See also JOB LOT(Cf. ↑job lot)