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New to Bracket order Transactions?
What is Bracket Order?
A bracket order is a special order type which allows traders to place the main order as well as the stop-loss and the profit taking order, all in a single click.
What are the three legs of a Bracket Order?
The three legs of the bracket order are: (1) Position Initiation Order (2) Square-off order and (3) Stop-Loss order. The bracket order is used to implement an Exit Plan where one order is designed to take profits and the other is designed to cut losses.
Who can use Bracket Order?
Bracket Order is available on request; client needs to submit his signed request in prescribed format. The format for activating the Bracket Order is available in the Download section.
Which Scrip will be allowed in Bracket orders?
Selected scrip are allowed to trade in Bracket Order; The discretion to select the scrip for Bracket order remain with Reliance Securities. Reliance Securities has the right to make changes in the offered scrip anytime.
In which exchange Bracket orders are allowed?
In NSE Cash & FNO only.
How can I register to enable Bracket Order trading?
Activation formats are available at Download section of our web portal (http://www.rsec.co.in). Client needs to sign and submit the same to nearest Reliance Securities branch along with adequate ID proof.
What are the benefits of Bracket Order?
Bracket Orders can save a lot of time which is spent placing separate orders. Bracket orders are an effective way to manage risk and lock in a profit on an order that is yet to execute. Bracket orders support 'trailing' stop losses too.
What are the inputs required for Position Initiation order (first leg)?
The customer needs to input exchange segment, instrument type (cash/futures/options), symbol, expiry date, price and quantity.
What are the inputs required for Square-off order (second leg)?
The square-off order is the reverse leg limit order. It can be referenced to LTP (Last Trade Price) or ATP (Average Trade Price) of the executed order. Absolute value as profit OR profit in number of ticks can be selected as per choice. For limit price in Rs above LTP, LTP and Absolute needs to be selected in the radio buttons. One tick is equivalent to Rs0.05. For limit price in ticks above ATP, ATP and ticks needs to be selected in the radio buttons.
What are the inputs required for Stop-Loss order (third leg)?
The user needs to enter LTP/ATP, absolute/ticks and check the trailing stop loss if desired and trailing ticks.
What is the difference between LTP and ATP?
LTP is the Last traded price of the first leg executed order while ATP is the average trade price of the first leg completed order of the client.
How to exit Bracket Order?
Bracket Order can be exited. If initial initiation order is not executed, the initiation order will be cancelled upon exit. If the initiation order is executed upon exiting the bracket order, the square off order will automatically get executed at market price and the stop loss order will be cancelled.
What is trailing stop loss?
The user can select trailing stop loss if he/she wants the stop loss order's trigger price to get modified according to favorable price movement.
How is the reverse leg executed?
The execution of square-off order and stop loss order are two mutually exclusive events and the execution of one will automatically cancel the other order. Partial execution of one leg of the order automatically modifies the quantity of the other leg order.
Is order cancellation allowed?
Order cancellation is not allowed for bracket order after the execution of first order.
Is order modification allowed?
Order modification is allowed for Stop loss leg as well squared off leg.
What happens if the square-off order or stop-loss order breaches the daily price range (DPR)?
In case, the square-off order breaches the DPR, it will be placed within the circuit limit. In case, stop-loss order falls outside DPR, the stop-loss order will be placed within the circuit filter.
Is the position conversion allowed?
Position conversion not allowed from bracket order to any ther product.
What if position remain open & Stop loss order & Profit booking order not executed till 3.30 PM?
RMS will run Auto-square off @ 3.15 PM So, all the open position will be squared off & pending orders will get cancelled. No new position will be allowed after the square-off has started.
Is there any fees to avail facility of Bracket order?
The Bracket order is a premium feature offered to our customers. The charges are INR 5 per executed exchange order number which will be debited on daily basis. For more details on the product and charges, please contact your Relationship Manager.
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