When you try to place an order for higher quantity you might have received a pop up as seen below.

Understanding Order Slicing in Trading

When you attempt to place an order for a higher quantity, you might receive a pop-up notification. Let’s delve into what this "Order Slicing" means.

What is Order Slicing?

Order Slicing is a technology that splits a single large order into multiple smaller orders when the quantity in the original order exceeds the maximum limit prescribed by the Exchange. This ensures that your order complies with the Exchange’s rules and can be executed efficiently.

Exchange Order Limits:

The Exchange sets a maximum quantity limit for each derivative contract, which can vary over time. You can check the maximum order limits by clicking on each symbol name within your trading platform.

Example:

For instance, the maximum quantity allowed in a single order for Bank Nifty (lot size 15) is 900, representing 60 lots. If you try to place an order for 61 lots (915 quantities), it will exceed the Exchange’s threshold and should ideally be rejected. Therefore, you would need to place two separate orders—one for 900 quantities (60 lots) and another for 15 quantities (1 lot).

How Order Slicing Works:

Order Slicing simplifies this process. With this feature, you can place an order for up to 25 times the Exchange-prescribed limit in a single entry. In the Bank Nifty example, you could place an order for up to 22,500 quantities (900*25) in one go. The system automatically slices this large order into 25 smaller orders before sending them to the Exchange, making the process quicker and more convenient for you.

Important Considerations:

• If you wish to place an order that exceeds 25 times the Exchange limit, it will need to be split and placed separately.
• The maximum order quantity limit can vary between different instruments and may change over time.