Pre-Trade risk controls for market order in Option Index & Stocks

Dear Trader 

Exchange has introduced the following changes for market order in Option Index & Option Stocks -

1.  LTP is not an available in option for the day market orders  in such a scenario shall be rejected by the Exchange by with below rejection.

  17181: Contract not traded. Market order not allowed

2.Market Orders shall be allowed to be traded only up to a certain mark-up/down price above/below Last traded Price (LTP). otherwise order will be rejected from exchange end with below rejection.

17182: Order could have resulted in trade beyond mark-up price

Initially,  parameters to arrive at the mark-up/down shall be set as follows  

3. Stop Loss orders with Market for Index options and Stock options contracts are not allowed . with below rejection .Already live since Sep 27 2021 

 16052: Function not available 

For further details check out exchange circular here