BSE puts off multi-legged order facility indefinitely

Mumbai, Aug 3

Top bourse BSE has deferred the release of multi-legged order entry facility in the equity derivatives until further notice to give sufficient time to market participants to test their systems with the new functionality.

Under the new facility, which was to be operational on Monday, a trader is allowed to purchase or sell a variety of different futures and options at the same time, which otherwise would need separate orders for different contracts.

"Trading members are hereby informed that release of multi-legged order entry facility in the equity derivatives live trading environment has been deferred until further notice," BSE said in a circular.

The stock exchange had carried out mock test on August 1 and yesterday for the multi-legged order entry.

"Since this was a new functionality to be introduced, a need was felt to conduct more market wide mock sessions to give sufficient opportunity to the market participants to test their systems with the new functionality," a BSE spokesperson told PTI.

"In view of the same, it was decided to postpone the release of the new software and the systems were brought to the previous version as on Friday date on systematic basis.

Market functioned without any reported issue today," he added.

The stock exchange was previously to introduce the facility on Monday.

The facility would help the trader incorporate more advanced derivatives trading strategies.

Besides, the trader would need to pay sales commission only once, as against the current practice of multiple fee payments.

A trader can place orders across two, three or four contracts through a single combination order. —  PTI