Is there any issue with BO orders today? All orders are getting rejected with the message 'MIS/BO/CO orders are blocked for this instrment (try CNC/NRML) or it has been restricted from trading' Below orders: 191128001176217 - M&MFIN19NOVFUT 191128001029333 - MGL19NOVFUT
As today is final day of expiry we block offering BO/CO on stock futures, can check policies here under additional notes and we constantly review these as physical delivery for all stocks is new thing. You can try for next expiry.
Above link describes nothing on BO/CO orders, though it clearly mentions that "Fresh positions will be allowed for futures and options writing contracts throughout the month. The allowed product types are NRML and MIS." In any case, restricting the BO/CO orders for the above mentioned reason doesn't make sense, as they will be squared off anyway? ( especially, when the note mentions that, you allow the futures positions throughout the month). I can understand the increase in the margin, and that's absolutely fine.
BTW, I used to get a different message for this case earlier. This was mainly for positional trades. I don't think I got anything like this for BO/CO earlier. I don't have the exact message, but something like " The contract is in compulsory physical delivery, so MIS trades are not allowed. Please use the next month contracts". Also, I did not face this issue in last month's expiry, even not in last 2-3 months. Never for BO trades. I do take at least 2-3 BO trades every single day. Can you please check if something changed, and update the policy if needed. Thanks much.
In any case, restricting the BO/CO orders for the above mentioned reason doesn't make sense, as they will be squared off anyway? ( especially, when the note mentions that, you allow the futures positions throughout the month). I can understand the increase in the margin, and that's absolutely fine.
BTW, I used to get a different message for this case earlier. This was mainly for positional trades. I don't think I got anything like this for BO/CO earlier. I don't have the exact message, but something like " The contract is in compulsory physical delivery, so MIS trades are not allowed. Please use the next month contracts". Also, I did not face this issue in last month's expiry, even not in last 2-3 months. Never for BO trades. I do take at least 2-3 BO trades every single day. Can you please check if something changed, and update the policy if needed. Thanks much.