Sharekhan

Big Trade+ (BTP) Order is a order placement facility offered by Sharekhan wherein any Limit or market order can be placed along with a Stop Loss Order.

BTP 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 intra-day position with such orders which blocks lesser margin

Terms and Conditions (Bracket Order)

The Client understands, agrees and is aware that:

	The BTP order facility by 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 and conditions and represents to Sharekhan that this facility is suitable to him.
	The client agrees that this facility is an additional service being provided by Sharekhan and the client understands that he can use alternative means to place his orders such as online, app, etc. Sharekhan shall not be responsible for any losses, including notional or actual, because of the clients’ usage of this facility.
	BigTrade+ order facility is presently available for Equity Cash and Derivatives in the Futures & Options. Scrips/Contracts for which this facility is allowed will be decided as per Sharekhan Risk Policy.
	BTP orders can be placed from opening of the market at 9.15 AM till 3.11 PM. Bracket Orders shall not be available in pre opening / post closing sessions. Sharekhan may amend such timing based on its sole discretion. Big Trade Plus order window may be closed at any time, before or after 3.11 p.m. at the discretion of Sharekhan, without any prior notice and without assigning any reasons therefor. Sharekhan shall not be responsible for any costs / losses, direct or indirect, arising out of non-availability of such Big Trade Plus instruction window at any point of time.
	BTP order facility would require the clients to place a minimum of 2 leg order 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 (Third Leg) of the order to book profit at 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 market 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 Sharekhan 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 utilized by the client. The Client undertakes to check the trades regularly and any discrepancy should be immediately brought to the notice of Sharekhan by writing to tc@sharekhan.com. Discrepancy, if any, shall be raised within 24 hours from the trade date.
	The Client acknowledges that in case the Second Leg / Third leg of the order is not executed till 3.11 PM or such other time that Sharekhan may, at its sole discretion decide, Sharekhan shall endeavor 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 Sharekhan 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 Sharekhan. Margins shall be placed in form of funds and / or securities subject to appropriate haircut as per risk management policy of Sharekhan.
	The Client agrees that Sharekhan may at its sole discretion, change the margin requirement on the 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.
	Sharekhan 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 Sharekhan, such as price band, technical glitches, software malfunctions, etc. 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 etc, 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. Sharekhan shall not be liable for the same.
	Sharekhan 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 www.sharekhan.com.
	Though Sharekhan shall take best efforts to square off all the unexecuted orders within timelines provided, however, technical / system related / communication failure issues or other glitches and constraints beyond control of Sharekhan may prevent Sharekhan from squaring off the same within timelines and that in such scenarios, Sharekhan 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 only and Sharekhan, 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 & Cancellation of Bracket order: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 re-calculated & margins shall be blocked accordingly. In case the available Margin with Sharekhan is insufficient, then 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 3.11 PM or such time provided by Sharekhan 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 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 together. There is a facility in the order book to cancel the order and all legs of the order will get cancelled together. Sharekhan 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.
	Sharekhan 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’t’s and confirm to abide by the same at all times.

FAQ's