Terms & Conditions for trading in Bracket Order
Under Bracket Order, functionality has been provided to client to place three legs orders simultaneously wherein First Order can be a market/ limit order ,second order will be a Stop Loss order with Trigger Price and third order will be Profit Price Order.
The client agrees that transactions under the facility will be required to be squared off within the same trading day when the position is taken. The cut off time for modification of SL orders to market orders is at 3.09 pm or any time as specified.
The Client understands and agrees that the it would not be able to convert an existing open position / order taken / placed under any other product feature to a Bracket Order position or vice versa. In no circumstances the order placed under this product will be allowed to carry forward.
The Client agrees that under this facility, all the three orders are to be placed simultaneously having identical quantities of the scrip in which the First Order is placed in case of market order. However in case of limit order once the trades get executed the other two leg orders will be placed to Exchange.
As per the product offering in case the first order has been placed & executed it cannot be cancelled. The client has an option to modify the stop loss Price and Trigger Price. Stop Loss order cannot be cancelled in isolation.
There is option to exit from Bracket order placed. Once you select exit your position will get sq-up cancelling other two leg pending orders.
The Client agrees that, under the Facility, depending on the stock volatility and market situation for particular scrip, Prabhudas Lilladher Pvt Ltd would specify a percentage difference that would be required to be maintained between the Trigger Price and Stop Loss Price. The client agrees that the percentage differences would be required to be maintained at the time of order modification also. The client agrees that if he does not maintain the prescribed difference, the order or the modification request, as the case maybe, shall be rejected.
The client agrees that Prabhudas Lilladher Pvt Ltd from time to time and/ or Prabhudas Lilladher Pvt Ltd may increase margins or levy additional margin if deemed could revise this percentage appropriate even during the trading period which may be carried out in normal course of business and considering market /scrip volatility. The client further agrees that, Prabhudas Lilladher Pvt Ltd may, at it's discretion, alter the price conditions or specify additional conditions under the facility.
The Client agrees that the Frequently Asked Questions (FAQs) for Bracket order, as posted on the site, are an integral part of this Terms and Conditions. The client acknowledges as having read and the understood these FAQs.
Prabhudas Lilladher Pvt Ltd shall decide upon the list of Contracts in which the Clients would be permitted to take position under this Bracket Order facility. Such list of underlying(s) detailing the contracts would be subject to change by Prabhudas Lilladher Pvt Ltd from time to time and even during the day.
If an Underlying / contract(s) is disabled under the facility during the day, clients will still have the option to close the existing open positions. However, no fresh orders will be allowed in such contracts.
The Client agrees that Prabhudas Lilladher Pvt Ltd may require the Client to provide such margin (in such form and manner as acceptable to PRABHUDAS LILLADHER PVT LTD ) depending on the market volatility on different contracts, as it deems fit, in its sole discretion, as necessary for Risk mitigation. This margin requirement may be more than the margin prescribed by the Stock Exchanges.
Margin may be taken in cash or in form of securities, which may be transferred / pledged in favour of PRABHUDAS LILLADHER PVT LTD , as may be acceptable.
Prabhudas Lilladher Pvt Ltd shall decide upon the specific margin applicable for transactions under the facility and Prabhudas Lilladher Pvt Ltd reserves the right to alter the underlying specific margin applicable for an underlying without notice to the Client and without assigning any reasons whatsoever.
The Client agrees that no interest shall be payable to the Client by Prabhudas Lilladher Pvt Ltd on client margin money or pay-in/pay out obligation funds lying with PRABHUDAS LILLADHER PVT LTD , which may have been accrued on such funds.