BASIS OF TRADINGThe NEAT F&O system supports an order driven market, wherein orders match automatically. Order matching is essentially on the basis of security, its price, time and quantity. All quantity fields are in units and price in rupees. The lot size on the futures market is for 100 nifty future. The exchange notifies the regular lot size and tick
size for each of the contracts traded on this segment from time to time. When any order enters the online trading tips, it is an active order. It tries to find a match on the other side of the book. If it finds a match, a trade is generated. If it does not find a match, the order becomes passive and goes and sits in the respective outstanding order book in the system.
CORPORATE HIERARCHY
In the F&O trading software, a trading member has the facility of defining a hierarchy amongst users of the system. This hierarchy comprises corporate manager, branch manager and dealer.
CORPORATE MANAGER: The term corporate Manager is assigned to a user placed at the highest level in a trading firm. Such a user can perform all the functions such as order and trade related activities, receiving reports for all branches of the trading member firm and also all dealers of the firm. Additionally, option trading courses, a corporate manager can define exposure limits for the branches of the firm. This facility is available only to the corporate Manager.
BRANCH MANAGER: The Branch Manager is a term assigned to a user who is placed under the Corporate
Manager. Such a user can perform and view order and trading courses related activities for all dealers under that Branch.
DEALERS: Dealers are users at the lower most level of the hierarchy. A Dealer can perform view order and trade related activities only for oneself and does not have access to information on other dealers under either the same branch or other branches.
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