After market orders

General
1

what happened to after market orders placed up to 9.14 am.?

if it is not executed,will the order remains afterwards also?

2

After market order which was placed, If it not executed will get canceled by end of the day.

3

Why did Zerodha stop taking AMO orders for SL-M order? Is there a technical reason. I am asking this because for people who are working its easier to set a SL-M order previous evening, rather than waiting for the markets to open and then give the SL-M order.

4

Zerodha have moved AMO from normal market to pre market session and stoploss orders are not allowed in pre market session.

5

OK so that means that SL orders can only be ordered when market opens at 9.15 am ? No other turn around way ?

6

Yes, You get it.

1 Like
7

Curious to know, why did Zerodha stop SL orders in AMO?

8

I assume your question is why zerodha moved AMO from live to pre market session?

9

For me the question is - Earlier I was able to put SLM orders in the evening for next day. Now I am not, I have to wait for the market to open. Why did Zerodha do that ?

10

Quoting Mr. Nithin
"One of the issues that we and other brokers place is of orders placed at market opening taking a long time to execute. The main reason for this is the thousands of after market orders that get fired at the market opening, these will get in a queue and even the market orders getting placed at 9.15 am would take a long time to execute.

We did the below to fix this issue

Equity AMO orders are placed at pre-market open (@9.00 am) instead of normal market open at 9.15 am. This we have done a few weeks back. Equity orders which sometimes was taking upto 30 seconds at market open to execute now trades instantly."

11

Is this the case with all brokers ? I mean none of them allow SLM before market opening ? or does Zerodha need additional infrastructure to take care of those thousands of AMOs. ?

12

To not allow SLM in pre market is decision of exchange and to fire AMO orders in pre market session is of brokerage firm.

13

OK so if I understand this correctly. If I want to enter a SLM order for tomorrow, then I cannot do it today evening. This will stand true for any broker in India, since exchange has stopped it ? Is this understanding correct ?

14

But there is a catch,
Above statement is only true if broker is firing AMO orders in pre market session.

1 Like
15

Hi Bikram

Sorry for the late reply, but I am still confused. Consider this scenario: “I have bought 50 INFY shares today at 1000 Rs., now today evening, I want to put a stop loss @ 950 Rs., then Can I do it today evening (using SL-M under AMO mode) or I need to wait till tomorrow morning market opening time, to put the stop loss order (using SL-M under market mode)?” If the answer to above question is “you have to wait till tomorrow morning till market open time”, then my next question is "Is this specific to Zerodha? or all brokers?

[quote=“Bikram, post:10, topic:7747”]
Equity AMO orders are placed at pre-market open (@9.00 am) instead of normal market open at 9.15 am. This we have done a few weeks back. Equity orders which sometimes was taking upto 30 seconds at market open to execute now trades instantly."
[/quote] Is this applicable only for equity orders or Futures orders too ?

16

To make use of Gap-Up or Gap-Down while placing orders at market open:

Kindly inform the amount of margin blocked while placing AMO

Also, can AMO be placed between 9:00-9:07am i.e. at Pre-open, or before 9:00am only ?

Is AMO:SL-M allowed at pre-Open , for Stop Loss ?

What is advisable- Placing AMO or Cover Order/Bracket Order @ 9:15am, for fast execution ?

Thanks in advance !