What is disclosed quantity feature and how to use it?
Disclosed quantity allows you to disclose only a part of the actual quantity you want to buy/sell. Once the client specifies the disclosed quantity, the order is sent to the exchange, and only the disclosed quantity will be shown on the market screen.
The disclosed quantity, if entered, should not be greater than or equal to the order quantity and should also not be less than 10% of the order quantity.
To use the disclosed quantity feature click on the “More” button on the order window and enter the quantity in the Disclosed quantity window. Refer to the GIF below to see how this works.
Exchanges follow a "price-time priority" principle for orders. Whenever an order is placed at the exchange, it's given a timestamp which is then used to prioritize your orders.
In the example below, if the customer wants to buy or sell 25000 shares, with a disclosed quantity condition of 5000 shares, only 5000 shares will be displayed to the market at a time. After this is traded, another 5000 shares will be automatically released until the order is fully executed.
Disclosed quantity can’t be used when trading futures & options.
Different exchanges have different disclosed quantities:
- NSE/BSE (Equity) = Disclosed quantity cannot be less than 10% of your order.
- NSE (CDS) = Disclosed quantity cannot be less than 10% of your order.
- NSE/BSE (F&O) = There is no disclosed quantity option. You can place multiple orders if you want to buy/sell huge quantity without shaking up the market.
- MCX (Commodity) = Disclosed quantity cannot be less than 25% of your order.