Your order was cancelled by the exchange because no matching counterparty was available at the time of execution. This happens in two specific scenarios, depending on the order type you placed.
- Immediate or Cancel (IOC) orders: When you place an Immediate or Cancel (IOC) order, the exchange tries to match it instantly. If no counterparty is available to match your order at that moment, the exchange cancels it immediately. IOC orders do not remain in the order book waiting to be filled.
- Periodic call auction scrips: For stocks that trade under the Periodic Call Auction (PCA) mechanism, orders are collected and matched at specific intervals called auction sessions. If your order does not find a match during the auction session, the exchange rejects it.