Order Execution Priority

The priority of execution of the orders will be in the sequence mentioned below:

• Eligible Limit orders to be matched with eligible limit orders
• Unmatched limit orders to be matched with market orders
• Unmatched market orders to be matched with market orders
  
  

Treatment of Unexecuted Orders

All orders entered in the system for a particular stock will match at a single price i.e. the market opening price

All unmatched limit orders in the pre-open session will be shifted to the order book of the continuous trading session on price-time priority basis.

All unmatched market orders will be shifted to the continuous trading session as limit orders priced at the market opening price on time priority basis. In other words, unmatched market orders will be moved to the continuous session as limit orders priced at the opening price, and will retain their original time stamp.

In case the opening price is not discovered in the pre open session, wherein, there are only market orders, the market orders will be matched at the previous day’s closing price. All the unmatched market orders will be shifted to the continuous session as limit orders priced at the previous day’s close. The previous day’s close shall be the opening price of the stock.

In case the opening is not discovered and there are no market orders to be matched, then all unmatched market orders (priced at the previous day’s close) and limit orders will be shifted to the continuous market following price- time priority. The price of the first trade in the continuous markets will be the opening price of the stock.