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Have you ever wished you could place more orders in Nifty & Bank Nifty, without being worried about Rejection? Well, your wishes have come true.

“Introducing Split Order “– the feature that can make your trading smarter and more profitable

 This feature will be available on the Espresso app and Binge desktop application.

What is a Split order?

• When the user places an order greater than the quantity allowed by the Exchange, the order gets rejected as it exceeds the max quantity limit set by the Exchange. A split order is the system-based intelligent order processing mechanism where the order will be split into two or more orders according to the limit set by the Exchange.
• By enabling split order functionality, the user would not need to place multiple orders for large quantities Instead, the entire process can be done with a single click
• However, do note that split order will work only for new orders & square off orders and not while modifying an existing order.
• Split order functionality is used only in equity futures and options

Let’s take one example to understand the steps to use split order on the Espresso app

1. Ordering nifty CE option of 100 lot (i.e 100 *50 = 5000 quantity)

2. On clicking “place order”, it will split your order of 5000 into 3 orders: 2 orders of 1800 and a 3rd order of 1400.

As the maximum quantity limit for Nifty is 1800, which is set by the Exchange, it will not take orders above 1800 in a single split (max quantity can be changed as per the Exchange rules). You can check the latest maximum quantity allowed on the NSE website https://www.nseindia.com/products-services/equity-derivatives-banknifty)

3. You can check the split order bifurcation on the order confirmation window

4. After clicking on confirm order, your split orders will be processed and a progress bar with the approximate order process time will be shown.

5. After your order gets processed, you can see all your split orders in the order report

To check out the video presentation of the above blog post, click the link https://youtu.be/TrD57Q-EWgI