Option Plus

If the Fresh/Cover SLTP order gets canceled by National Stock Exchange of India Ltd (NSE), will I be able to re-enter the Fresh/Cover SLTP Order?

No. In case your Fresh/Cover SLTP order gets canceled by National Stock Exchange of India Ltd (NSE) due to Trade Price execution Range, you will not be allowed to re-enter either Fresh/Cover SLTP Order. In such cases I-Sec on best effort basis would first cancel pending fresh/cover orders and then initiate the Square off process for the pending Open position. For Example: Assume you take a buy position for the fresh order of 1000 quantity at current market price of 100/-. Simultaneously you also place the Sell (cover SLTP order) of 1000 quantity as Limit price 90/- and SLTP 95/-. At the time of Execution of cover order, the execution price say for example 91/- is outside the Trade price Execution Range (92-98). Such order will be canceled by Exchange and you will be exposed to higher risk since there will be no order to cover your Open position. In such case I-Sec on best effort basis would try squaring off your net Open buy position at current market price. Assume you try taking a buy position for the fresh order of 1000 quantity at current market price of 100/-. Simultaneously you also place the Sell (cover SLTP order) of 1000 quantity as Limit price 90/- and SLTP 95/-. If the fresh order of SLTP product is a market order, execution price of market order depends on the available ask - bid prices and quantity at that point of time in exchange. Hence, in this case, if the execution of market order is going beyond exchange specified trade range, then the fresh order (fully or partially) could be canceled by exchange and you will be exposed to higher risk since reverse position can be created if cover SLTP order gets matched and traded within the Trade price Execution Range. In such case I-Sec on best effort basis would try canceling your pending cover S