Active traders looking to trade Large Quantity Orders can now slice their orders into multiple small orders with Order Slicing in their TradePoint and Mobile App. With Order Slicing, you can divide your orders into 2 to 25 slices that will be executed one after the other.
With order slicing, traders can prevent significant market impact that may result from placing a large quantity order. This approach reduces the risk of sudden or substantial price fluctuations in a single direction, enhances the likelihood of executing the order, and minimizes the cost associated with holding a position. Moreover, it is beneficial for traders who deal with quantities larger than the exchange’s freeze limit.
You can perform Order Slicing on Large Orders under the following conditions.
- Segment – Cash, F&O, CDS and Commodities
- Exchange – NSE, BSE, and MCX
- Validity – Daily for NSE & BSE
- Product – Cash, F&O, CDS and Commodities
- Order Type – All
- Not Supported – After Market Orders (AMO)
- Transaction Types – Buy & Sell
- No. of Slices – Min 2 and Max 25
Custom Order Slicing
You get two options to slice your orders – one, by number of slices and the other, by quantity. You can decide in how many slices you wish to divide your order or how many quantities you wish to put in a single order. Depending on your choice, the software will divide your order into slices, which will then be executed consecutively.
Users can also add a step-up or step-down as multiples of the tick size to automatically increase or decrease the price of their consecutive slice orders.
Steps involved in Order Slicing
You can slice your orders in TradePoint and Zone Mobile App. The steps required to slice orders in TradePoint are given below The same steps can be followed in the mobile app too.
Step 1 –
Select the ‘Market’ option on your homepage.
Step 2 –
Select the ‘Buy’ or ‘Sell’ option from the dropdown menu as per your requirement.
Step 3 –
In the opened pop-up, select exchange, scrip, CNC or MIS, order type and enter your total order quantity. Then, select the ‘Order Slicing’ option to slice your order.
Step 4 –
Depending on whether you wish to divide your order by Number of Slices or Quantity per Slice, you can choose the respective option.
Number of Slices –
You can decide how many slices you wish to divide your order in. Simply, enter the number of slices under the ‘No. of Slices’ option. You can divide your order in anywhere between 2 to 25 slices. Once you enter the number of slices, your order will be equally divided into the selected number of slices.
The quantity per slice will be decided using the formula – (Total Qty/ No. of slices)
In case of an indivisible amount, the remaining quantity after the division will be added to the last slice.
Please note that the number of slices cannot be blank, less than 2 or more than 25.
Quantity per slice –
TradePoint allows you to decide how much quantity you wish to add to a single slice. Select the Qty per slice’ option to divide your order into slices of your desired quantity. Once the quantity is added in the section below the ‘Qty. per slice’ option, the orders will be automatically divided in slices of your desired slice.
Number of slices will be decided using the formula – (Total Qty/ Quantity per slice)
In case of an indivisible amount, the remaining quantity will be added to the last slice.
Please note that the quantity per slice cannot be blank or more than the total quantity. The total quantity should be divided in at least 2 slices and not more than 25.
Step 5 –
TradePoint offers you the ‘Step Up/Down’ option to let you set an order price difference between each slice order. You can buy/sell your slice orders at an increasing or decreasing price.
Select the ‘Step Up/ Down’ option and enter a number below it. Please note that the entered number should be a multiple of the tick size.
Step 6 –
Once everything is done, you can execute your order by clicking on the respective ‘Buy’ or ‘Sell’ option on the screen.
Please ensure that you have sufficient funds when placing any order.
Once your order is placed, your slice orders will be executed one after another.
Important Note –
- The Derive price for all slice orders should be within the day price range for the selected stocks.
- In case you have insufficient funds, the Order will not go through. The same will happen if the quantity per slice exceeds the total quantity or the number of slices is less than 2 or greater than 25. In this case, you will be required to reset the order slicing details before placing the order.
- Once you have placed the order, you can check the status of your Slice Orders normally under TradePoint.
- After placing your Order, you can cancel individual slice orders or cancel all orders as long as they are in the pending stage.
If you have any queries regarding Order Slicing, you can reach out to us at [email protected] or call us at 020-61923200.