What are the various Price conditions which can be attached to an order placed in Order Matching Mode?
A dealer can attach following price conditions to an order placed in Order Matching Mode:- • Limit price: The maximum price which the dealer wishes to pay while buying or the minimum price which the dealer wishes to receive while selling. • Market Price: An order for which no price has been specified at order entry time. This order would be traded at the current opposite side best order’s price. • Stop Loss (SL) Price: The dealer can enter an order with a SL trigger price. Such orders are called Stop Loss orders. The stop loss orders are not taken for matching unless the trigger price is either reached or if it is surpassed by the last traded price for the instrument. Once the market price reaches or surpasses the trigger price, the ‘stop loss’ attribute is removed and the order is taken up for regular matching process. • Take Profit (TP) Price: The dealer can enter an order with a TP trigger price. Such orders are called Take Profit orders.
