Use Split Order Functionality on Espresso Web | Espresso


How to use Split Order Functionality on the Espresso Website

April 20, 2022
How to use Split Order Functionality on the Espresso Website

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 trading smarter and more profitable for you.

 This feature will be available on the Espresso Web, 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. 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 Futures and options

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

  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: 1st order of 1800, 2nd order of 1800 and 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

3. After clicking on yes on the “confirm order” pop up, your split orders will be processed and a progress bar will be shown.

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

Conclusion - By using split order functionality, user can place futures and options orders greater than the quantity allowed by the exchange

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.