What does the error ” 16283 : Order price is not a multiple of tick size” mean?
16283 : Order price is not a multiple of tick size.
If the price entered in an LMT or SL order is not in multiples of 5 paise, the order will be rejected & the above error will be displayed.
Note:
However, in order to increase the liquidity and enable the market participants to put orders at finer rates, BSE has reduced the tick size from 5 paise to 1 paise in case of units of mutual funds, securities traded in "F" group and equity shares having closing price up to Rs. 15 on the last trading day of the calendar month.
Accordingly,
the tick size in various Securities quoting up to Rs.15 is revised to 1 paise
on the first trading day of the month. The tick size so revised on the first trading day of the month remains unchanged during the month even if the price of Securities undergoes a change.
Refer to
this link
for more information.
Still need help?
×
![]()