PRICE AND ORDER TYPES
Limit Order: Limit orders are placed by specifying repo rate, repo security price, price/yield and nominal value in multiples of the minimum order size. The non-executed part of the order remains passive in the system.
Market Order: In this type of orders, a price/yield is not specified. The order given in multiples of the minimum order size is fully or partially matched by passive orders and the non-executed part of the order is cancelled.
Limit Order and Market Order can be given to include the specific conditions defined below.
Fill and Kill Order: It is an active order type subject to the condition of execution in part. As soon as it is entered, this order matches with the outstanding counter-orders, and its non-executed part is automatically cancelled. It may be given in the form of a “Limit Order” or a “Market Order”.
Fill or Kill Order: It is an active order type subject to the condition of execution in full. If this condition is not met as soon as the order is entered, the order is cancelled. It may be given in the form of a “Limit Order” or a “Market Order”.
Validity Periods of Orders
Orders are valid for the day on which they are placed. All orders with a value date being the prevailing day are cancelled at 14.00 hrs if not executed, and those with a future value date are cancelled at the market closing hour.