"Size of the Market"

The number of shares that a specialist or market maker is ready to buy or sell is referred to as the "size of the market." This number is quoted in round lots of 100 shares which means the last two zeros are dropped. The size of the market information is supplied with a quote on professional data systems. If you get a quote of "bid 20, offer 20 1/4, size 20 X 20" this means that the person or company is willing to buy 20 round lots, or 2,000 shares, at 20; or sell you 2,000 shares at 20 1/4. Market makers and specialists do not create size, they report it and the size is reported in different ways depending on who is doing the reporting.