electing sale investment & finance definition

The round-lot transaction that activates an odd-lot or round-lot stop order. The first transaction after the electing sale is the effective sale for determining the price of the odd-lot order. An electing sale can take place only when the price of a security is at or through the price specified on the order. For example, if a customer enters an order to buy at 15 stop, the electing sale will be the first sale at which the stock trades at a price of $15 or more.