FAQs

Price Conditions
• Limit Order: the Client while inputting the Order
in the system specifies limit price. The Order shall be executed only
if the market reaches the Limit price specified by the Client.
• Market Price Order: A Market price order is an order given
by the client to buy or sell stocks at the available market price
at that particular time. Normally market price orders are converted
into Trade if there is sufficient quantity available in the market.
If the order is not converted into trade then it will be converted
into a limit order and will get cancelled end of the day.
• Stop Loss Orders: In a Stop loss order the Client is required
to fill in two prices, 1. Trigger Price and 2. Limit Price. Traders
to limit the loss on open position normally use stop loss orders.
In a stop loss order, the Client can specify a trigger price which
is higher than the market price in case of buy stop loss order and
lower than the market price in case of sell stop loss order. As the
market reaches the trigger price specified by the Client, the Order
is sent to the Exchange till the specified Limit Price. For example
if you have a position of 100 Reliance @ Rs.340 and the market price
of Reliance is bid Rs.340 and offer Rs.342. You decide that if the
price of Reliance reaches Rs.332 you would want to curtail your loss
and sell your position up till Rs.330. In this case you can input
a stop loss order where the trigger price would be Rs.332 and the
Limit price would be Rs.330. If the price of Reliance touches Rs.332
in the market your stop loss order will get converted into a limit
order to sell 100 Reliance @ Rs.330. If there is any buyer standing
to buy between Rs.330 and Rs.332, then your order will get traded.
• A Fill or Kill 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
.

Quantity Conditions
• Disclosed Quantity: The disclosed quantity attribute
allows the client to hide the actual quantity that he wishes to buy
or sell. Client can place an order to buy or sell shares and also
specify the disclosed quantity. When the order is sent to the Exchange
only the disclosed quantity will be shown. For example if a Client
wishes to buy 1000 shares of Reliance, he/she can put in disclosed
quantity as 100, thus the order that is sent to the Exchange will
only reflect a order to buy 100 Reliance whereas the actual order
quantity is 1000. The Exchange may set the disclosed quantity criteria
from time to time.
• Order Types: An “Active” order is an order entering
the system. Once this order does not find a matching in the system
as an outstanding order and is called a “Passive” order.
Best sell order is the order with the lowest price and a best buy
order is the order with the highest price. The unmatched orders are
queued in the system by the priority based on price.
• A buy order with a higher price gets a higher priority and
similarly, a sell order with a lower price gets a higher priority.