Stock Market Conditions

ORDER TYPES AND CONDITIONS:

The system allows the trading members to enter orders with various conditions attached to them as per their requirements. These conditions are broadly divided into the following categories:

  1. TIME CONDITIONS.
  2. PRICE CONDITIONS.
  3. OTHER CONDITIONS.

Several combinations of the above are allowed thereby providing enormous flexibility to the users. The order types and conditions are summarized below.

TIME CONDITIONS:

1.      DAY ORDER: A day order, as the name suggests is an order which is valid for the day on which it is entered. If the order is not executed during the day, the system cancels the order automatical ly at the end of the day.
2.      IMMEDIATE OR CANCEL (IOC): An IOC order allows the user to buy or sell a contract as soon as the order is released into the system, failing which the order is cancelled from the system. Partial match is possible for the order, and the unmatched portion of the order is cancelled immediately.

PRICE CONDITION:

1. STOP LOSS: This facility allows the user to release an order into the system, after the market price of the security reaches or crosses a threshold price e.g., if for stop loss buy order, the trigger is 1027.00, the limit price is 1030.00, and the market (last traded) price is 1023.00 then this order is released into the system once the market price reaches or exceeds 1027.00. This order is added to the regular lot book with time of triggering as the time stamp, as a limit order of 1030.00. For the stop-loss order, the trigger price has to be greater than the limit price.

OTHER CONDITIONS:

  1. MARKET PRICE: Market orders are orders for which no price is specified at the time the order is entered (i.e., price is market price). For such orders, the system determines the price.
  2. TRIGGER PRICE: Price at which an order gets triggered from the stop-loss book.
  3. LIMIT PRICE: Price of the orders after triggering from the stop book.
  4. PRO: Pro means that the orders are entered on the trading Member’s own account.
  5. CLI: Cli means that the trading member enters the orders on behalf of a client.

 

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