We draw your attention to our notice no. 20230915-33 dated September 15, 2023, advising due care to be exercised while placing orders on important attributes. Further, we have also issued notice no. 20230921-43 dated September 21, 2023 discontinuing Stop Loss Market Orders (SL-M) to prevent placement of erroneous orders.
We now draw your attention to exercise due care while placing market orders. Feature of market order is a vital feature facilitating risk reduction by prioritising the execution at the prevailing prices. However, incorrect use of this feature can lead to unintended consequences which could adversely impact the participants besides intermittently impacting the equilibrium of the market. In extreme volatile conditions, incorrect usage of market orders may also cause price slippages which can have financial bearings.
Trading Members (TMs) are urged to use market order feature with due care and also assess suitability of the said feature for specific client needs. TMs shall continuously analyse / monitor effective use of market order feature in their systems, both at TM and user level, to enhance safety to market participants including the clients.
In case any further support is required or for further query or clarification, please reach out to us at 022-2272 8705 / 2272 8885 or write to us on email ID : iml.info@bseindia.com.
For & On behalf of BSE Ltd.
Arvindkumar Iyengar Sachin Unkule
Chief General Manager Senior General Manager
IT Projects Surveillance
October 27, 2023
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