Specialist Firm Complains About Odd-Lot Abuses

Specialist firm LaBranche & Co. complained to regulators that certain professional traders are abusing the odd-lot trading rules -- designed to protect small traders -- at its expense.  In response, the NYSE has imposed volume limits to stop manipulation.  It has also brought regulatory actions against abuses of the odd-lot system.  WSJ, NYSE Moves to Prevent Abuses in Odd-Lot Trades.