Trading Procedures

Trading Procedures

Can one square up, take delivery or carry forward their position in settlement ?

Yes, you can square up your position, you can short sell i.e. go short and square up within settlement or can go long and square up within settlement. If you do not sqaure up your short and long position, it becomes your obligation at the end of settlement. You can carryforward certain scrips from one settlement to other settlement through Automatic Securities Lending and Borrowing Mechanism.

What are GTC, GTD and IOC orders ?

A Good Till Cancelled (GTC) order remains in the system until the trading member cancels it. However, the system cancels this order if it is not traded within a number of days parameterised by the Exchange. A Good Till Days/Date (GTD) order allows the user to specify the number of days/date till which the order should stay in the system if not executed. The maximum number of days for which the GTC/GTD order can remain in the system is notified by the Exchange from time to time after which the order is automatically cancelled by the system. The days counted are inclusive of the day/date on which the order is placed and inclusive of holidays. An Immediate or Cancel (IOC) order allows the user to buy or sell a security 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.

What is a Disclose Quantity (DQ) order?

The system provides a facility for entering orders with quantity conditions: DQ order allows the member to disclose only a part of the order quantity to the market. DQ (Disclosed Quantity) should not be less that 10% of the Order Quantity and at the same time should not be greater than or equal to the Order Quantity.

What is a Stop Loss order ?

A stop loss order allows the trading member to place an order which gets activated only when the last traded price (LTP) of the share is reached or crosses a threshold price called trigger price. For example, you have a sold position in some security whose current price as of now is Rs.500. You would not like to buy the scrip for more than Rs.510 later in case the market goes against you i.e. go up. You would then put a SL Buy order with a Limit Price of Rs.510. You may choose to give a trigger price of Rs.505 in which case the order will get triggered into the market when the last traded price hits Rs.505 or above. Incase of a SL sell order, you may stop your losses beyond Rs.490 if the market falls by giving a limit price of Rs. 490 with a trigger price of Rs.495.

What are price bands?

The Exchange has fixed price bands for different securities within which they can move within a day. As per SEBI directive, all securities traded at or above Rs.10/- and below Rs.20/- have a daily price band of ±25%. All securities traded below Rs. 10/- have a daily price band of ± 50%. Price band for all securities traded at or above Rs. 20/- have a daily price band of ± 8%. But for 200 scrips the price band is fixed ± 12%. The previous day's closing price is taken as the base price for calculating the price

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