Mumbai, India: Placing a large trade can involve more than deciding how much to buy or sell. When the quantity is higher than the applicable exchange freeze limit, the order has to be split into smaller quantities before it can be placed.
HDFC SKY's Auto Order Slicer takes care of that calculation automatically. Instead of working out the split and entering multiple orders manually, traders can enter the quantity they want to trade, with the platform dividing it into smaller orders based on the applicable order size limits.
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For traders who regularly handle large quantities, it removes one repetitive step from the execution process.
Puneeth Bekal, CMO, HDFC Securities, said:
"Technology in trading is increasingly about removing friction from the moments that matter. Traders should be able to focus on their market view and execution strategy rather than spending time manually breaking down order quantities. With HDFC SKY's Auto Order Slicer, we are automating this operational step to make handling larger orders simpler and more seamless, while keeping the trader in control of the underlying decision."
Taking the manual work out of order slicing
Exchange freeze limits can restrict the maximum quantity that can be placed through a single order for a particular instrument. If a trader wants to place a larger quantity, that order needs to be divided into smaller ones.
Doing this manually means calculating the quantities, entering the orders and repeating the process until the full quantity has been placed. For someone placing large orders regularly, it is a routine task that can take unnecessary time and attention.
The Auto Order Slicer automates this part of the process. When the entered quantity exceeds the applicable limit, HDFC SKY divides it into smaller orders based on the relevant order size parameters.
The trader still makes the trading call. The platform handles the arithmetic and order splitting that follows.
Order slicing is a simple example of where automation can make a difference in day to day trading.
A trader may already know the quantity they want to buy or sell. There is little value in making them repeatedly calculate how that quantity needs to be divided just because of an order size restriction.
HDFC SKY's approach is to leave that operational step to the platform. This can be especially useful for active traders who frequently work with quantities that are above the applicable single order limit.
The Auto Order Slicer does not bypass exchange restrictions. It works within the applicable limits for the relevant trading instrument.