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Trade
When a buy order matches with a sell
order following the price-time priority logic, a trade takes place.
The system generates a unique trade number for each trade.
Turnover Limit
This indicates the aggregate trade
value limit on a daily basis set for a trading member. The Exchange
sets the limit for each trading member of the Capital Market. The
trade value for both buy and sell for a day are accumulated and the
total is checked against this upper limit after every potential
trade match.
Trade guarantee
Trade guarantee is the guarantee
provided by the clearing corporation for all trades that are
executed on the Exchange. In contrast the settlement guarantee
guarantees the settlement of trade after multilateral netting.
Trading for delivery
Trading conducted with an intention
to deliver shares as opposed to taking up a position and squaring
off within the settlement.
Transfer deed
A transfer deed is a form that is
prescribed by the Registar of Companies for effecting share transfer
and is valid for a specified period. This transfer deed is the
instrument that accompanies the share certificate while registering
a transfer with a company. The transfer deed must be duly stamped
and signed by or on behalf of the transferor and be complete in all
respects.
Time
Conditions
- DAY
- A day order, as the name suggests is an order which is valid for
the day on which it is entered. If the order is not matched during
the day, the order gets cancelled automatically at the end of the
trading day.
- GTC - A Good
Till Cancelled (GTC) order remains in the system until it is
cancelled by the user. It will therefore be able to span trading
days if it does not get matched. The Exchange may however set an
upper limit to the number of working days an order can stay in the
trading system. At the end of this period, GTC orders are
cancelled automatically from the system.
- GTD - A Good
Till Day (GTD) order allows the user to specify the number of days
up to which the order should stay in the trading system. At the
end of this period, the order gets flushed out from the system if
it is not traded or is not cancelled by the trading member.
- IOC - An
Immediate or Cancel (IOC) order allows a user to buy or sell a
security as soon as the order is released into the market, failing
which the order is removed from the market. There could be a
partial match for such an order resulting in one or more trades,
in which case the balance order will be removed from the market.
All reference to days in the
trading system would refer to working days. Thus, each day is
counted on a working day basis i.e. intervening holidays are not
considered. The days counted are inclusive of the day on which the
order is placed. However, for Repo term, days are counted on a
calendar basis.
Trader Workstation
A dealer can participate in the Capital Market only from the trader
workstation, where the trading functions are available.
Trading Member
It refers to a member of the BSE/NSE who is authorised to place
orders in the Capital Market System. The term Broker or Brokerage
house is also used to convey the same meaning.
Transmission
Transmission is the lawful process
by which the ownership of securities is transferred to the legal
heir/s of the deceased.
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