§ 21.15. Exemptions for purchases and sales by odd-lot dealers.

 Securities purchased or sold by odd-lot dealers in odd lots, so far as reasonably necessary to carry on odd-lot transactions, or in round lots to offset odd-lot transactions previously or simultaneously executed or reasonably anticipated in the usual course of business, shall be exempt from the provisions of the act with respect to participation by the odd-lot dealer in the transactions.

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