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Why am I unable to place fresh NRML orders in some Currency contracts?

Brokerage firms have a restriction in terms of maximum Open interest (OI) or total outstanding futures and options positions that can exist across all its clients. When the Open Interest utilisation for the currency pair is about to be breached, fresh NRML orders will be blocked/restricted for respective currency pairs at the discretion of our Risk management team.

As per the exchange rule, The gross open positions(both long and short positions) of the client across all contracts in the respective currency pairs should not exceed the limits mentioned here .

Client level gross open positions are computed as below:

Long positions are considered as Long Futures, Long Calls, and Short Puts.

Short Positions are considered as Short Futures, Short Calls, and Long Puts.

You will still be able to place MIS orders, however, you won’t be able to convert these MIS positions to NRML for a contract in which fresh NRML orders are blocked/restricted.

Note : No Block/Restrictions are set on the day of Expiry of the currency contracts.