I placed an AMO order at 9.13 AM today for an options contract but it got rejected.
@suresh BUY SELL Orders for FNO segment cannot be placed during Pre open session:
Also Zerodha has made recent changes to how The AMO orders functions.
This is because AMO for equity F&O is not accepted after 9.10 am.
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.
Pre-validation of F&O AMO orders at 9.10 AM.
Staring today we stopped accepting all F&O AMO orders at 9.10 am. Between 9.10 am to 9.15 am F&O AMO orders are pre-validated and ready on our OMS to be fired at market open. So what this does is all AMO orders don’t really get in a queue at market open on our OMS, execution speeds at market opening has become almost instant now.
Any AMO placed after 9.10 am upto 9.15 am will get rejected saying Admin stopped AMO, the reason you got today at 9.13 am.