Business
oi-Oneindia Staff
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.
HDFC SKY, HDFC Securities’ digital trading platform, launched Auto Order Slicer to automatically split large orders exceeding exchange freeze limits into smaller quantities, simplifying repetitive calculations for traders while they retain full control over the trading decision.
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.
Built for a practical execution problem
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.
Within exchange defined limits
The Auto Order Slicer does not bypass exchange restrictions. It works within the applicable limits for the relevant trading instrument.
Freeze quantities are determined by the exchanges and can vary from one instrument to another. When a quantity is above the permitted limit, the platform splits it into smaller orders so that the order placement follows the applicable parameters.
The feature therefore deals with the mechanics of placing a large order, while the trading decision remains with the user.
The decision stays with the trader
Automation can make an execution process easier without taking the decision away from the person placing the trade.
With Auto Order Slicer, the trader decides what to buy or sell, the quantity and the order parameters. HDFC SKY’s technology handles the splitting of that quantity when required.
That is the real use case here. It is not about making the trading decision for the user. It is about taking a repetitive calculation out of the process.
Where Auto Order Slicer fits into HDFC SKY
Digital trading platforms now bring together market access, research, analysis and execution tools in one place. HDFC SKY provides access to market segments including equities, ETFs and F&O, along with tools designed for different trading and investment needs.
Auto Order Slicer addresses one specific part of that experience: placing an order when the intended quantity is higher than the applicable freeze limit.
For traders handling large quantities, the benefit is straightforward. They can enter the quantity they intend to trade without manually working out every smaller order required to place it.
About HDFC SKY
HDFC SKY is a digital investment and trading platform from HDFC Securities. The platform provides access to multiple financial market segments and offers technology based tools for investors and traders.
