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Buy / Sell
Step One- Place Order
Stock Code
You can specify the underlying in which you want to take
position. The Stock code is to be specified here. The code can be found by
entering three or more characters and clicking on the link for "Find A Symbol".
All matching stocks are displayed.
Exchange
Exchange is the stock exchange to which the order is routed.
Product
Product "Futures/Options has to be selected.
Step Two - Select Contract
Buy/Sell
The buy or sell option needs to be selected here. It will take
you straight to the buy/sell page. The Stock code is to be specified here.
Add to Favorite
Selected contract will be made part of "My Favorite" page.
Step Three - Buy/Sell Orders in Futures
Quantity
Quantity has to be in lot size and its multiples as displayed on
"Select Contract" page.
Limit / Market
Limit Order is an order to buy or sell contract in which you
specify the maximum price per unit in case of a Buy order and the minimum price
per unit in case of a Sell order. The actual transaction can be at a price more
favorable than the price specified.
Market Order is an order to buy or sell contract at the best
price obtainable in the market at the time it is matched by the exchange.
Therefore, chances of its getting executed are better. In case of market orders
for NSE, all market orders placed which are not executed become limit orders at
the last traded price. Where a market order is not executed fully, it becomes a
limit order for the balance quantity at the last traded price.
Stop Loss Trigger Price
A Stop Loss order allows you to place an order which gets
activated only when the market price of the relevant security reaches or
crosses the specified price. The price specified is the Stop Loss Trigger
Price. A Stop Loss Order can be placed only with a limit price.
Day Order
Good Till Day (day order) orders are orders remains valid only
for one trading session. Any unexecuted order pending at the end of the trading
session for the day gets expired.
IOC Order
Immediate or Cancel (IOC) order allows the user to buy or sell a
security as soon as the order is released into the system, failing which the
order is cancelled from the system. Partial match is possible for the order and
the unmatched portion of the order is cancelled immediately.
2L / 3L Orders
Orders can be placed in the same underlying contract or
different underlying contracts as well.
Orders in the same underlying contract can be placed using the
'Place 2L & 3L orders' link. You will have to define the underlying in
which you want to place orders. On submission of the same, all contracts
available in that underlying would be displayed. Minimum two and maximum three
orders can be placed through this facility. Order has to be in tradable lot of
that underlying. You can place limit or market order.
Orders in different underlying contract can be placed through
'My Favorites'. This means that the contracts in which you want to place
orders, must be in your 'My Favorites'. You can select minimum two and maximum
3 contracts from 'My Favorites' and place the orders. Order qty must be in
marketable lots of respective underlying.
Order Book
The page presents the current status and other details of
buy/sell orders placed by you. The details are updated on a real-time basis and
the latest status can be verified by refreshing the page.
Each order has an Order Ref. No. which is an internal no.
assigned by ICICIDirect.
Filters
The orders displayed can be selected on the basis of the
following filters :
Brokerage Account
Underlying
Exchange - at present only NSE
Product - Select Futures/Options.
Further, orders can be selected either on the basis of :
Date From and Date To
Status
Every order can have one of the following states:
Requested : Order has been accepted but is yet to be sent to the
exchange. When orders are placed during non-market hours, they are sent to the
exchange when it opens.
Queued : Order has been sent to the exchange - confirmation from
the exchange is awaited. This could also be on acccount of a request for
modification or cancellation of an order.
Ordered : Order has been accepted by the exchange but a trade is
yet to be executed thereagainst. The status for an Order is 'Ordered' even when
a modification request has been accepted or rejected or when a cancellation
request is rejected. Where a modification request is accepted, the order
quantity shows the new quantity.
Executed : Order has been executed to the extent of the full
quantity.
Part executed : Order has been executed to the extent of a part
of the total order quantity.
Rejected : Order has been rejected by the exchange.
Part Executed and Rejected : Part of the order has been accepted
and the other part has been Rejected.
Cancelled : Order has been cancelled.
Expired : Order remained unexecuted by end of day and expired.
Freezed Orders: Orders freezed by the exchange.
Occasionally, there may be some delay in getting a confirmation
of the acceptance of an order by the exchange. The fact that the status of the
order is still shown as 'Queued' does not mean that the order has not been
accepted by the exchange. It is possible that the order might have been
accepted by the exchange and executed also. Avoid re-entering the order;
otherwise, you may end up placing multiple live orders for the same contract.
As soon as ICICIDirect receives a confirmation, the status will be updated.
Transaction details against each order can be viewed by clicking
on the link 'Executed' or 'Partly Executed' in the 'Status' column. On
accepting the order, the exchange assigns the Exchange Ref no. for the order.
When trade(s) are executed against the order, each trade is assigned a Trade
Ref no. by the exchange.
Unexecuted orders can be modified or cancelled through the link
for 'Modify' or 'Cancel' in the column for Status. This is possible only when
the status of the order is 'Ordered' or 'Partly Executed'. You are cautioned
that the request for modification or cancellation of an order may be rejected
by the exchange if the order which is sought to be modified or cancelled is
already executed in part or full in the interim.
The order modification log can be viewed by clicking on the link
in the column for Order Ref.
Orders placed at outside the scan range or with exceptionally
high quantity will be freezed by the member. Freezed status can be views by
clicking the orders reference number in the order book. Exchange will then
discuss about it with the member and then reject or accept accordingly.
Open Positions - Options
The page presents details of all your open positions and unexecuted orders.
Open positions are created on execution of future orders. The open positions
are reduced on execution of cover orders (A Sell order is a cover order for an
open Buy position) .
The positions can be selected for display on the basis of
Brokerage Account
Exchange
Product
Underlying
Quantity indicates the open position.
Buy/Sell Order Qty indicates the total quantity of orders placed in a
particular contract. The order quantity is changed on placement / modification
of the order, the same is reflected immediately, even if the order is still in
a 'queued' state.
Exercise quantity indicates the Quantity of exercise placed.
Trigger Price indicates the Price at which the MTM would be run in case the CMP
of the Underlying goes above the Trigger price in case of Call and below the
CMP in case of Put.
LTP is the last traded price of that particular contract.
Margin on Position indicates the margin available against the position in an
underlying - group.
Margin on Orders indicates the margin available against the orders in an
underlying - group.
Against positions, there are links for:
'Add Margin' : You can allocate additional margins for a position in a
underlying - group. This is recommended for underlying stocks with high price
volatility. This can avoid calls for additional margins, which if not met, can
lead to close out of the open positions in the underlying - group.
'Square Off' : The user can square off the open position by placing a cover
order. Here, the maximum quantity permitted in the order is the open quantity
less the quantity of cover orders already placed and for which execution is
pending.
Open Positions -Futures
The page presents details of all your open positions and
unexecuted orders.
Open positions are created on execution of future orders. The
open positions are reduced on execution of cover orders (A Sell order is a
cover order for an open Buy position) .
The positions can be selected for display on the basis of
Brokerage Account
Exchange
Product
Underlying
Quantity indicates the open position.
Buy/Sell Order Qty indicates the total quantity of orders placed
in a particular contract. The order quantity is changed on placement /
modification of the order, the same is reflected immediately, even if the order
is still in a 'queued' state.
Base Price indicates the weighted average price at which the
open position has been created. On squaring off, the base price is taken to
arrive at the profit/loss on the quantity squared off. Weighted average price
at which the position was taken is replaced with the closing price of that
contract every day on EOD MTM. Next day, the previous day closing price is
taken as base price and further adjusted for increase in exposure.
LTP is the last traded price of that particular contract.
Margin on Position indicates the margin available against the
position in an underlying - group.
Margin on Orders indicates the margin available against the
orders in an underlying - group.
Against positions, there are links for:
'Add Margin' : You can allocate additional margins for a
position in a underlying - group. This is recommended for underlying stocks
with high price volatility. This can avoid calls for additional margins, which
if not met, can lead to close out of the open positions in the underlying -
group.
'Square Off'. : The user can square off the open position by
placing a cover order. Here, the maximum quantity permitted in the order is the
open quantity less the quantity of cover orders already placed and for which
execution is pending.
'Joint Square off': The user can square off the two positions
forming calendar spread position together through the joint square off screen.
Both the orders through this feature goes at market rate. Quantity of both
orders has to be identical.
Cash Projections
This page gives details of transaction date-wise net future cash
inflows/outflows due to/from you and the resultant balances. The input for cash
projections is transaction date. You can even view the historical payin/payout
by giving the historical transaction date.
All transactions executed on your account are aggregated for
each transaction day to arrive at the net amount receivable by or payable from
you for that transaction date. Based on the cash flow i.e. payin/payout, the
respective payin/payout date is also displayed. This amount is credited or
debited to your bank account on the date specified as the Cash pay-in/pay-out
date for the transaction date. Cash Projection gives the amounts of such debits
and credits, the dates on which such debit or credit will take place and the
closing balance after the respective debit or credit.
For each such debit or credit, details of all transactions
relating to the amount can be viewed by clicking on 'View Transactions'.
Reference column on 'View Details' page indicates the following:
Profit/Loss on cover leg: Contract Details
EOD MTM: Contract Details
Payin-Payout Internal Adjustment: Internal Adjustment Reference
Number.
Premium: Premium paid or Received on Option transactions
Exercise profit: Profit on exercise request placed.
Assignment loss: Loss on Assignment assigned by exchange.
Limits
Limit indicates the trading power of the user.
Limit for any transaction date is computed as:
Amount allocated for trade (1)
+ Amount blocked for trade (2)
+/- Settlement Balances (3)
Amount allocated for trade
This is the amount allocated by you out of your available clear
bank balance exclusively for trading. You cannot withdraw this amount from your
bank account. Amount allocated can be increased/reduced using 'Modify
Allocation' screen.
Amount blocked for trade
On the pay-out date of a particular transaction date, all
amounts payable to you are credited to your bank account. However, it is
possible that a net amount is recoverable from you for other transaction date
for which the cash pay-in date falls subsequently. In such cases, though the
amount for the transaction date with the earlier pay-out date is credited to
your bank account, a block is placed on the amount to the extent of the net
amount recoverable on a subsequent pay-in date. This amount is, therefore,
available to ICICIDirect.com on your account.
Settlement Balances
You can check the trading limit for the current transaction date
- for which you need to specify the Exchange and transaction date
You are allowed to utilise settlement balance receivable for the
current transaction date and for all settlements whose cash-pay out date falls
on or earlier than the cash pay-in day for the current transaction date.
However, if there is any amount payable by you for other transaction dates
whose cash pay-in day falls after the cash pay-in day for the current
transaction date, the limit is reduced to the extent of the maximum cumulative
net amount payable for such settlements.
The settlement balance is computed as :
- Net Cash Projections
- Amount blocked against open positions (as shown in the Open
Positions page)
- Amount blocked against unexecuted orders
Allocate Funds
The user can further allocate or reduce allocation of funds out
of his available clear bank balance exclusively for trading. The user cannot
withdraw this amount from his bank account. The limits are enhanced or reduced
to the extent additional amount is allocated or reduced from allocation.
Please note that on bank holidays and on weekly off days this
facility is not available.
Concept of Block for Trade in your Bank Accounts:
There are two types of blocks placed on your bank account
balance.
Block for Allocation
Block for Allocation is a block placed by you using the ' Modify
Allocations' screen on the Trading Home Page wherein you can allocate amount
from your clear balance for trading.
You can increase the Block for Allocation amount and can also
reduce the Block for Allocation provided the same is not used for trading.
Block for Trades
Block for trades is a block, which is placed by our system.
A block for trade is placed by the system if you have been
allowed a payable position in future against credit to be received by you
earlier.
Please note that you can only reduce the Block for Allocation
amount provided there is no uncovered future payable position. You cannot
increase or create block for trade since it is placed by our system.
We give below an example to enable you to understand this
concept better.
Take for e.g. your bank balance has the following balances:
Total Balance Rs. 10000
Net Withdrawal Balance Rs. 0.00
Block for Allocation Rs. 10000
Block for Trades Rs. 0.00
1) For trade date 24 Feb 2002, you are due to receive Rs. 5000
on Feb 26, 2002
2) For trade date 25 Feb 2002, you are due to pay Rs. 12000 on
Feb 28,2002
On 26 Feb 2002, when an amount of Rs 5000 for trade date 24 Feb
2002 is credited to your bank account, Rs 2000 will be sent as a Block for
Trade by our system and it would get reflected in the Allocate Funds Screen
and the Settlement Table on the limits screen. The amount of Rs.5000 will be
credited to your net withdrawal balance. However, since Rs.10000 is only
available as block for allocation against payable position of Rs.12000, Rs.2000
is blocked for trades.
On Feb 26, 2002 your Allocate Funds screen would display the
following:
Total Bank Balance 15000.00
Net Withdrawal Balance 3000.00
Current Allocation 10000.00
Block for trades 2000 .00
Please note that you would be able to withdraw only Rs. 3000
since Rs.10000 is blocked against trades and Rs.2000 as block for trades.
On Feb 28,2002 when an amount of Rs.12000 is debited, Rs.2000
lying as block for trade would be debited first and then Rs.10000 would be
debited from the block for allocation.
On Feb 28,2002 your Allocate Funds screen would display the
following:
Total Bank Balance 3000.00
Net Withdrawal Balance 3000.00
Current Allocation 0.00
Block for trades 0.00
It is to be noted that a block for trade would always be debited
first followed by block for allocation.
It may so happen that your payable position may cease to exist
for which a block for trade was created. This may happen when a buy order gets
expired or when you cancel/modify your buy order. In such cases you can reduce
the block for trade amount by using the Reduce allocation option.
My Favorites
Contracts of utmost interest to you be can be separately listed
on "My Favorite" page. LTP & spot price of all such contracts can be seen
together. You can further click on LTP or spot price and view the complete get
quote. You can even place an order in any of those contracts without going to
"Place Order" screen.
Track Market
Other details of contracts forming part of "My Favorite" are
available on this page. You cannot add or delete any contract from this page.
Deletion is possible only from "My Favorite" page. It provides even the "cost
to carry" value as well.
Cost To Carry
The cost-of-carry model where the price of the contract is defined as:
F=S+C
where:
F Futures price
S Spot price
C Holding costs or carry costs
If F < S+C or F > S+C, arbitrage opportunities would exist
i.e. whenever the futures price moves away from the fair value, there would be
chances for arbitrage.
If Wipro is quoted at Rs 1000 per share and the 3 months futures
of Wipro is Rs 1070 then one can purchase Wipro at Rs 1000 in spot by borrowing
@ 12% annum for 3 months and sell Wipro futures for 3 months at Rs 1070.
HereF=1000+30=1030 and is less than prevailing futures price and hence there
are chances of arbitrage.
Sale = 1070
Cost= 1000+30 = 1030
Arbitrage profit 40
However, one has to remember that the components of holding cost
vary with contracts on different assets.
Stock List
It displays all the underlying available to you for trading in
futures. You can further click on individual underlying and come to know the
contracts available for trading. Order can then be placed from there without
even going to "Place Order" page. Various kind of margin % shown against each
of the stock is the applicable margin.
Portfolio Details
The portfolio details shows contract wise details of unrealized
and realized profit on trades executed by you. The details are updated on a
real time basis and the latest status can be verified by refreshing the page.
You can view the profit / loss in a particular month contracts by giving the
months as input.
Filters
The Trades displayed can be selected on the basis of the
following filters:
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Underlying
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Month From (Contract Month)
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Month To (Contract Month)
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Product: Futures or Options.
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Exchange : At present only 'NSE'
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Open Positions : Open position in a contract is displayed in this field. If you
have squared off your position or if contract has expired, open position will
be zero. Open position value is nothing buy value of your open position at
actual WEP (not adjusted for EOD MTM)
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Realized Profit / Loss: It is actual profit / loss on squared off or closed-out
transaction. It compares the actual WEP and the price at which the square off
transaction took place.
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Unrealized Profit / Loss: It is a profit / loss on open position. It compares
the actual WEP and the LTP of contract.
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View Details: This page lists down all the transactions which has contributed
to realized and unrealized profit / loss. Details like quantity, rate, trade
value and respective trade reference of all such transactions are also
available.
Calculate Index
This calculator gives you a freedom of calculating index by
changing the values of individual stocks. By default, LTP of all the stocks
(forming part of index) is taken and index value is displayed. You can now
change LTP of any number of stocks and see its impact on index. While
calculating the index, LTP of all the stocks is taken as shown on the screen
except those changed by you.
Know Your Margin
This facilitates you in determining the margin requirement to
place various orders and to take various kind of positions also. At one point
of time, you can calculate margin requirement in a particular underlying. It
does take care of calendar spread.
For example, you want to place order in Fut-ACC-28 Feb-2002. You
should first define ACC as the stock code and get all the contract details. Now
you just need to insert buy order qty and the rate at which you are placing an
order. You will get your margin requirement. Similarly margin on sell orders
can also be found out.
If you have already placed a buy order in Fut-ACC-28 Feb-2002
and now wants to place sell order in Fut-ACC-28 Mar-2002, you need to enter
sell order quantity and rate for Fut-ACC-28 Mar -2002 alongwith buy qty and
rate for Fut-ACC-28 Feb-2002. It will show you the combined order level margin
requirement.
If you are placing an order against a particular open position,
you should enter position details against that contract and order details
against a contract in which you want to place an order now. It will show you
whether any margin would be required to place an order or not.
As mentioned above, it takes care of spread positions also. If
you have a buy position in Fut-ACC-28 Feb-2002 and now wants to have sell
position in Fut-ACC-28 Mar-2002. The margin requirement post sell position can
be found out by inserting buy qty and rate for Fut-ACC-28 Feb-2002 and sell qty
and rate for Fut-ACC-25 Mar-2002 in position columns.
Exercise Book
This Book gives Details of all position Exercised by you.
Filters :
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Underlying
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Date From (Trade date)
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Date To (Trade date)
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Product: Futures or Options.
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Exchange: At present only 'NSE'
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Status
1. Contract Descriptor: Displays the description of the contract.
2. Exercise date: Gives the date of Exercise.
3. Exercise Reference: Gives the reference number of the Exercise
4. Exercised Quantity
5. Settlement price: Price at which the quantity was assigned.
6. Status:
Exercised: The exercise request has been
accepted by the exchange
Rejected: The exercise request has been
Rejected by the exchange
Cancelled: The exercise request has been
cancelled by you.
Exercise Placement
Quantity has to be in Lot size and multiples of it.
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