Banknifty ATM strike order anomaly 17070 error

ATM strike order was ‘cancelled 17070 error’ WTF? BNIFY was trading between 32300 and 32400?

This is normal order man… comeon, seems I just cant trade in india with indian brokers. Have to pay higher and search for issueless-broker experience

Even creating a ticket is CRAP, have to search toppic… what a mess you have become zerodha!

ANother feather in the cap

open pending for 5 minutes…


I have posted this issue almost two weeks back. Looks like it has materialized for everyone now… :stuck_out_tongue_winking_eye: :laughing: :joy: :joy: :joy:

@DemonSlayer: yes, the cause is pretty consistent. Like fibonacci or lucas series. But the effects are also seem to be affecting larger set of traders nowadays.

Was this the exchange problem? or the broker problem?
Exchanges are also very lethargic, they dont resolve their issues soon. This time it may be NSE.
Lets see what reason zerodha comes up with!!!

I can’t say for sure, the mods would have concrete answer. Have minimalized my trading with zerodha at the moment.

I can’t say for sure, the mods would have concrete answer. Have minimalized my trading with zerodha at the moment.

which broker you use? hows the experience? whats your average frequency of trades on the alternate platform?

These are rejected from exchange due to out of execution ranges, can read this to know more about execution range.

@siva: I have also posted the LTP of BNIFTY which is Near to money or ATM +/- 50 points.
How can it get rejected from exchange?
You can check that even the market order was rejected.

ANd what is 17070 code? is it Zerodha internal or exchange generated error?

You need to understand what is execution range, can you please read the link I shared?

Exchange generated, our messages won’t start with numbers.

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@siva ok, if the instance is not zerodha problem,not blaming you folks. But if the exchange is going KAPUT regularly, the broker’s association should team-up and files cases against NSE/exchanges, else they dont intend to correct and retail public keep suffering.

Even the exchanges are really lazy to update the price ranges, send updated files to brokers -etc

Didn’t trade today but when checking the charts, it seems that during certain periods, there was no volume traded for the strikes that you mentioned above (32400 PE, 32200 CE, and 32200 PE). Also, as @Siva mentioned, this problem likely happened at the exchange’s end because I checked the charts on Upstox & Finvasia, and those brokers were also showing zero volumes for certain time periods.

Also, I observed that this only affected certain strikes as the 32400 CE strike that you mentioned didn’t face such a problem.

Sharing screenshots of what I am seeing -

32400 PE -

32200 CE -

32200 PE -

32400 CE -

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Not likely, it is, execution ranges are from exchanges.

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@Prayag: Thanks for spending time to give us a birds-eye-view of what could have happened! Much appreciate your efforts. So @siva was there any explanation from exchange on this behavior as seen in various charts @Prayag has shared? Have you guys asked what happened?
This is 2 instances:

  1. from 14.49 to 14.58 and again
  2. from 15.08 to 15.13
    Both the instances would need explanation from zerodha/@siva or if they are not at fault, then please get the info from exchanges and let us know what happened. Both instances may have different reasons for the black-out.
    Tagging people with knowledge to get more details here @eaglem @DemonSlayer @siva @nithin
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When indices move either up or down very fast then options on them also tend to move fast as there is execution range concept placed by exchanges to avoid trading at far away prices from recent prices there will be no trades happening on those till the trade would be with in ranges of reference price, that day as it is also expiry and all ATM options are moving so fast hence we see no volumes, you can see the same across all broker charts on that day. If you understand the concept of execution range you would not be asking the same doubt again and again, let me know if you have any query in understanding execution ranges.

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@siva. Thanks for explaining it patiently.

But think for a minute. If the prices are moving fast, the exchange has to set the execution ranges in PERCENTAGES according to the derived price. Only the underlying would be set to limits of 5%/10%/20% circuits from the previous close which is understood.

Everything are percentages, hence ‘derivatives’. Then if the price of the underlying moves fast, even a processor on personal computer can calculate all the ‘derived prices and the limits’ accordingly and everything in FnO be in line with the prices however fast it moves.
I dont think it takes 10 minutes or 9 minutes of lost data/no-trade to update the execution ranges.

Are the exchanges so lazy/ill-equipped to do the above?
Or is this still a stupid question/repetition in your view?

In my case, i faced different problem than you.
pls this order details.
i sent order on 15:07:28
it was SL-M type. order accepted immediately, & waas pending at broker’s RMS system.
the order has been sent to exchange immediately after it triggers & got executed on same time.
the confirmation came late after 2 minutes. till it was saying order sent, validation pending, same case happened with another 2 orders, in that 2 minutes neither i can modify nor cancel it. so i got a tension, as move was fast & i could’t book winning trade.
if problem occurred at exchange, then my order did’t executed on time.
BTW, moneycontrol was telling that zerodha website was been crashed due to heavy traffic as many users accessed it for ipo bidding.

@eaglem Agree with you, as I also momentarily faced a situation that 40% of my orders got placed an executed. When I saw that my orders are being cancelled. I immediately exited those 40% orders with w loss (better that way than to depend on these un-reliabilities).

In your case following is what I think happened(may not be accurate, but thinking out loud here)

  1. Due to sudden price movements, the stops/triggers started pouring into the exchanges. Exchange started denying/cancelling the incoming orders.

  2. the processing can be serial, one after the other like.
    A. get the orders from various sources or attempt to process at-least a percentage of (per instrument, not all) pending orders
    B. validate the orders
    C. Place the order in the exchange order book and sort the bid/ask ladder.

Your order got stuck in the step A, while the exchange kept on receiving new order dumps and kept cancelling it, not allowing the other steps to be executed.

I dont know how efficient is the exchange execution mechanism, if the backend is written properly to handle events like these(looks like its inefficient from this Thursday event)

Does anyone know how the orders go through which steps once its 'SUBMIT’ed in our order boxes? and what happens/what to expect in those major stages if something goes wrong?

@economiconed thank for reply,
as per knowledge, exchange never cancel orders, once broker sent.
To avoid wrong orders, brokers has RMS department, the exchange hasn’t.
once order sent to exchange it will be pending until it get matched, get cancelled after 10 minutes of market closing.
suppose, a user sent a wrong order like sell reliance at 1000 whereas the ltp is around 2000.the order get rejected by broker as it it is out of range.
but if broker send it to exchange , it will get matched with best buyer.i remembered a fault of a dealer of emkey global securities, who placed a bulk orders (of few crores) . actually he wants to sell icicibank, but placed sell order for reliance. & within a second reliance & major stocks , index get crashed & re balanced within a minute.
emkey lost around hundred of crores in a type mistake of dealer.(this happened in 5 oct 2012, more details can be googled with “5 oct 2012 market crash”)
so in my view exchange don’t review, cancel,reject orders at his end. any responsibility of mistake is of brokers. so if your orders got cancelled then it might be at broker’s RMS system. @siva can correct me, if i am wrong.