MIS+ Features & Terms & Conditions

MIS+ is an order-placement facility offered by Espresso wherein any limit or market order can be placed along with a stop-loss order.

MIS+ order allows the client to take leverage as per his/her risk appetite along with the benefit to limit the downside. One can take an Intraday position with such orders which blocks lesser margin.

Terms and Conditions (Bracket Order)

The Client understands, agrees and is aware that:

The MIS+ order facility allows you to take positions with higher leverage. This facility may not be suitable to all clients. The client should assess the suitability of this facility for himself before using it. By using this facility, the client acknowledges that he has gone through these Terms & Conditions and represents to Espresso that this facility is suitable to him.
The client agrees that this facility is an additional service being provided by Espresso and the client understands that he can use alternative means to place his orders, such as online, app, etc. Espresso shall not be responsible for any losses, including notional or actual, because of the client's usage of this facility.
The MIS+ order facility is presently available for Equity Cash and Derivatives in the Futures and Options segments.
MIS+ orders can be placed from opening of the market at 9:15 AM till 3.18 PM. Bracket Orders shall not be available in pre-opening/post-closing sessions. Espresso may amend such timings based on its sole discretion. MIS+ order window may be closed at any time, before or after 3.18 PM at the discretion of Espresso, without any prior notice and without assigning any reasons therefor. Espresso shall not be responsible for any costs/losses, direct or indirect, arising out of non-availability of such MIS+ instruction window at any point of time.
The MIS+ order facility would require the clients to place a minimum of 2 leg orders i.e. a buy/sell order (first leg) along with a stop-loss order (second leg). The client may at their sole discretion place a third leg of the order to book profit at the desired rate (optional).
The first leg of the order shall have to be a limit or market order. This should be accompanied by a second leg stop-loss order within the rage specified. The second leg is mandatory. Orders with only first leg shall not be accepted.
The client agrees that in case of a fresh order, initially, at the first leg, margin shall be blocked at the applicable margin requirement of the order value. For market orders, margin shall be blocked considering the order price as the last traded price of the contract and on execution of the order, margin shall be suitably adjusted as per the actual execution price of the market order. In case of order modification also, the required margin shall be re-calculated and excess margin, if any, shall be released or additional margin required, if any, will be blocked.
Stop-loss order cannot be cancelled and will remain pending till trigger price is not reached. As soon as the last traded price reaches the trigger price, the order would be converted as normal order and will be executed at the best available price on Exchange platform.
The client acknowledges that the second leg or the third leg order shall be placed for execution as and when the prevailing market rate reaches the trigger price set by the client. It may so happen that such order shall be executed at a rate different from the trigger rate due to movement in the market prices. The client acknowledges that Espresso does not guarantee or assure reversal of position at stop-loss price of the client and shall not be liable for any loss, notional or otherwise, due to difference in the execution and the stop-loss price.
The client shall keep track of the market and execute/modify stop-loss order as per the risk parameters of the client. The client cannot deny the trades merely on the basis of high leverage utilised by the client. The client undertakes to check the trades regularly and any discrepancy should be immediately brought to the notice of Espresso by writing to [email protected]. Discrepancy, if any, shall be raised within 24 hours from the trade date.
The client acknowledges that in case the second/third leg of the order is not executed till 3.18 PM or such other time that Espresso may, at its sole discretion, decide, Espresso shall endeavour to square off the open position. In case the said position is not squared off before closure of the market, the position shall be carried forward to the next day. In such cases, the client shall be responsible for ensuring that adequate margins are available in the client’s account with Espresso in order to ensure that there is no shortfall in the account. In case there is a margin shortfall, the positions may be squared off based on the risk management policy of Espresso. Margins shall be placed in form of funds and/or securities subject to appropriate haircut as per the risk management policy of Espresso.
The client agrees that Espresso may, at its sole discretion, change the margin requirement on transactions in which the client has taken or proposes to take positions. In case of upward revision of the margin requirement, the client agrees to provide additional funds/securities as margin to continue with open positions taken in connection with the transactions.
Espresso does not guarantee that the orders will be successfully placed for square-off of all open positions or that orders placed for square-off shall be executed. In case the positions are not squared off for any reasons beyond the control of the Espresso, such as price band, technical glitches, software malfunctions, and so on, the same may result into Delivery. The client fully understands that such situations may result in additional margin requirements and pay-in obligations from the client for funds and securities and client would have to honour such obligations. All costs/expenses/charges arising out of such obligations/failure to meet such obligations shall be borne by the client.
Further, the client agrees that any cost, including, interest, additional brokerage, penalty on margin shortfall and so on, on account of carry forward of the positions, shall be at the sole responsibility of the client.
The client acknowledges that any loss on account of such delay in square off, whether actual or otherwise, shall be to the sole responsibility of the client. Espresso shall not be liable for the same.
Espresso reserves its right to modify all or any of the terms and conditions at any time. Updated terms and conditions would be available in the online login of the client on the website of the company at
Though Espresso shall take best efforts to square off all the unexecuted orders within timelines provided, technical/system-related/communication failure issues or other glitches and constraints beyond the control of Espresso may prevent Espresso from squaring off the same within timelines and in such scenarios, Espresso shall not be held liable for any losses incurred thereon.
Loss suffered, if any, in the course of the said trading will have to be borne by the client and Espresso, its associates, group companies, directors or employees shall not be responsible whatsoever for the same.
All trades are subject to bye-laws, rules, regulations, notices of Exchanges and regulations/circulars issued by SEBI.
Applicable Brokerage: Brokerage, as agreed as per KYC or as modified by servicing a notice from time to time, shall be applicable.
Modification and Cancellation of Bracket Orders: On the execution of the first leg of the order, the second leg (stop-loss) order can be modified till the time it doesn’t reach the trigger price. In case of modification of the stop-loss order, margin requirement will be recalculated and margins shall be blocked accordingly. In case the available margin with Espresso is insufficient, the order modification request would get rejected.
Square-Off: Positions taken will be squared off immediately if the stop-loss price gets triggered. The square off can also be initiated by client before 3.18 PM or such time provided by Espresso from time to time.
In case of execution of the first leg of the order, stop-loss order would not be available for cancelling. Client can only either modify the stop-loss trigger price or convert it to a market order, which means square-off will get initiated. Further, in case of the first leg of the order not being traded/executed and being pending in the system, the stop-loss order alone cannot be cancelled. The entire bracket order will have to be cancelled altogether. There is a facility in the order book to cancel the order and all legs of the order will get cancelled altogether. Espresso shall not be responsible for any losses, obligations or liabilities arising out of any delay in cancellation of orders and therefore orders getting executed before cancellation and all such obligations shall be borne by the client.
Espresso may, at its sole discretion, discontinue this facility without prior notice to clients at any time.
In case of partially executed parent order if modification is done for higher lot size/ qty than exchange allowed per order limit then exchange may accept the order & it may get executed but child legs will get rejected when sent to exchange post full execution of parent leg. The client fully understands that such situations may result in manual Sq. off of open position from backend. if position doesn’t get sq off due to any reason then it will get carry forward and may result in additional margin requirements and pay-in obligations from the client for funds and securities and client would have to honour such obligations. All costs / expenses / charges arising out of such obligations / failure to meet such obligations shall be borne by the client
I confirm that I/we have read and understood the Risk Disclosure Documents and the risks associated while trading in stock markets and have gone through the Rights and Obligations applicable to Stock Brokers and Depositories and the Dos and Don’ts and confirm to abide by the same at all times.

Registered Office: Espresso Financial Services Private Limited (formerly known as Sharekhan Comtrade Private Limited), The Ruby, 18th Floor, 29 Senapati Bapat Marg, Dadar (West), Mumbai 400 028, Maharashtra, India. Tel: 022 6115 0000. Fax: 022 6748 1899 Espresso Financial Services Private Limited: SEBI Regn. Nos.: BSE / NSE / MSEI (CASH / F&O / CD) / MCX – Commodity: INZ000041331; CIN No. U65100MH2015PTC269036 DP: CDSL-DP-451-2020; NSE Member ID – 90194; BSE Member ID – 6732; MCX Member ID – 55400 For any complaints, email at [email protected]
Compliance Officer: Mr. Sandeep Adhangale. Email ID: [email protected] | Tel: 022 6750 2000
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do’s and Dont’s issued by Stock Exchanges and Depositories and the T&C on before trading on the Stock Exchanges.