From 1nov 2023 sensex f&o transaction charging was increased to some extent ! Correctly how much it was increased ?
Now Nse and bse f&o transaction charges are same?
@nithin #futures-options
Transaction charges shall be levied based on the slab on the Incremental turnover basis for nearest expiry contracts only
For other expiry contracts: the charges remain the same. ( Rs. 500 per crore ~ 0.005%)
What is the nearest expiry contract?
You can check the below table to understand the concept
| Instrument | Underlying Asset | Trade Date | Expiry Date | Contract Classification | Transaction Charge Applicable |
|---|---|---|---|---|---|
| Index Options | SENSEX | 01-Nov-23 | 03-Nov-23 | Nearest / Immediate Expiry Contracts | Revised Transaction charges as mentioned in the circular |
| 01-Nov-23 | 10-Nov-23 | Other Expiry Contracts | No Changes | ||
| 01-Nov-23 | 17-Nov-23 | Other Expiry Contracts | No Changes | ||
| Index Options | SENSEX | 02-Nov-23 | 03-Nov-23 | Nearest/ Immediate Expiry contracts | Revised Transaction charges as mentioned in the circular |
| 02-Nov-23 | 10-Nov-23 | Other Expiry Contracts | No Changes | ||
| 02-Nov-23 | 17-Nov-23 | Other Expiry contracts | No Changes | ||
| Index Options | SENSEX | 03-Nov-23 | 03-Nov-23 | Nearest / Immediate Expiry contracts | Revised Transaction charges as mentioned in the circular |
| 03-Nov-23 | 10-Nov-23 | Other Expiry contracts | No Changes | ||
| 03-Nov-23 | 17-Nov-23 | Other Expiry contracts | No Changes | ||
| Index Options | SENSEX | 06-Nov-23 | 10-Nov-23 | Nearest / Immediate Expiry Contracts | Revised Transaction charges as mentioned in the circular |
For NSE, charges are Rs. 5000/ per crore (~ 0.05%)
While, BSE now has two rates:
-
Nearest expiry contracts - Rs. 3750/ crore (~ 0.0375%)
-
Other expiry contracts - Rs. 500/ per crore (~ 0.005%)
You can check the BSE Circular here : Notice Number
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Thanks for explaining clearly 
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@MohammedFaisal can you introduce option chain dropdown on BANKEX also. Since the volumes are picking up(last expiry around 1.3Cr volume), when you will introduce market order?
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Option chain is visible on Web, we’ll push it to the app on the next release (this month).
We are streamlining a process that auto-allows market orders for all index options if the OI of the contract is more than 500 lots (signifying liquidity), this will be live by next weekend
It will be added to the index by this weekend, The option chain button implemented for all F&O contracts of Bankex.
what happed?
not yet live for BANKEX
???
Z be like
Got tired asking them for any updates now.
Even SENSIBULL has become lethargic.
Even after ZERODHA has started MARKET ORDERS for SENSEX , they have still not yet started the same.
Asked them many times 
There was a large freak trade episode with Sensex options recently. We are evaluating how we should go about allowing market orders with such a large risk for customer and the business. In the last episode the customer lost ~1.5crores as the market order moved the market by a large amount even when there was decent OI in the contract.
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This happened with a fyers user some months ago and there was a lot of noise on social media. Is this a different more recent incident that you’re referring to?
I have posted in another thread about market protection orde type. Something like that could help.
Instead of usual market order, it is sent as limit order at 5 or 10% extra of the LTP.
User might suffer some slippage here also but it won’t be completely back breaking like 500 point or something.
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We have this on our list of things to do. The issue with us creating a market protection by force is that there might be complaints if orders don’t get executed when the market moves. Btw BSE themselves recently introduced market protection.
@ShubhS9 maybe you can share the link here.
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True. But that’s why it should be separate order type. When the client tries to go for market order on BSE, you nudge him to the market protection order type stating the danger/issue with market orders on BSE. If he still wants to go through with market orders then that’s his choice.
But if he chooses market protection, that becomes the default from then on for BSE until he manually chooses market order again.
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Hey @emrys11
Here’s the link by BSE: Notice Number
Market price orders shall be allowed to be traded only up to a price range based on pre-defined market price impact (MPI) percentage of the last trade price (LTP) of that contract.
If LTP is not available, then the MPI% shall be based on the previous close price of the contract.
- For buy orders, it shall be up to X% higher than the LTP
- For sell orders, it shall be up to X% lower than the LTP
If price of opposite side orders is beyond the MPI price range (as stated above), then the incoming market price order shall be converted to a passive limit price order at the LTP of the contract (or previous close price if LTP is unavailable).
In case of partial execution of the incoming market price order, if price of opposite side orders is beyond the MPI price range after initial matching of partial quantity, then the remaining quantity shall be converted to a passive limit price order at the LTP of the contract (latest trade price of the partially executed market price order).
MPI% for every market price order between 0% - 20% (Exchange-defined default MPI%, i.e. X = 20%). If MPI% has not been defined with the market price order, then the default MPI of 20% shall be applicable for such orders.
Examples for the same are mentioned in the above link.
We’ve explained the process for stocks here:
Yes. I went to the website and read the annexed document as well.
Won’t this cause a problem during market opening? If a contract closed at 100 and next day market opens significantly gap up so that the contract should be trading at 300, how will that contract go from 100 to 300. Will it be frozen for a few seconds, move up by 20%, frozen again, move up etc.
NSE used to have a system where options used to freeze during to large moves. This was disliked was traders back then and removed later. I don’t remember all the details but this used to happen back in 2020. Is this something similar.
Hi @emrys11,
This is applicable for market orders alone. You can still place Limit orders and they will be matched with other limit orders beyond the MPI price.
