Pre-Trade risk controls for market order in Option Index & Stocks

Dear Trader

Exchange has introduced the following changes for market order in Option Index & Option Stocks –

1. LTP is not an available in option for the day market orders  in such a scenario shall be rejected by the Exchange by with below rejection.

   17181: Contract not traded. Market order not allowed

2. Market Orders shall be allowed to be traded only up to a certain mark-up/down price above/below Last traded Price (LTP). otherwise order will be rejected from exchange end with below rejection.

   17182: Order could have resulted in trade beyond mark-up price

   Initially,  parameters to arrive at the mark-up/down shall be set as follows

   Instrument	% Of LTP	Minimum absolute Range (Rs.)
   OPTSTK	20%	10
   OPTIDX	20%	10

3. Stop Loss orders with Market for Index options and Stock options contracts are not allowed . with below rejection .Already live since Sep 27 2021

   16052: Function not available 

For further details check out exchange circular here