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Block Trading Session of Stock Market

Posted by NIFM
The Exchange has introduced a separate trading session for the block trades from November 14, 2005. In this session, trading is conducted in the Odd Lot market (market type ‘O’) with book type ‘OL’ and series ‘BL’. It is a 35 minute market; i.e. the trading window shall normally remain open from 9:15 hours to 9:50 hours. There is no pre-open and post close in the block trade session. For a block trade, order should be of a minimum quantity of 5,00,000 shares or minimum value of Rs. 5 crore which ever is lower. Orders get matched when both the price and the quantity match for the buy and sell order. Orders with the same price are matched on time priority i.e. orders which have come into the system before will get matched first. The securities, base price, alert quantity applicable in the block trade session are same as those applicable for the corresponding Normal Market on that day. As per SEBI requirement, member s required to put orders at a price not exceeding (+/-) 1% from the previous close price/ruling market price, as applicable, of normal market. Accordingly, every order price is validated for (+/-) 1% on the ruling LTP in normal market and any order away from this will be rejected by the system. Currently, market order is not allowed for BL series. Order with special terms such as ‘Stop Loss’, ‘Disclosed Quantity’ is not available in this session.

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