The order was cancelled by the exchange because the price is outside the current allowed limit price

coolkoti · February 2023

I'm getting "The order was cancelled by the exchange because the price is outside the current allowed limit price" error for Futures.
I thought this error is only for option contracts (https://zrd.sh/lpp-range-rejection), but from Yesterday, I'm getting this for Futures as well.
And, this is happening at around 3:10 PM. My existing stop loss orders are getting cancelled with this message.
Please check Order Id: 230208600242733. This is for SL limit order NAVINFLUOR23FEBFUT at 4174.4. This is almost market price, so definitely not outside range . I also don't see any issue with depth/liquidity. And, this order was there from morning Anything changed?

rakeshr · February 2023

Exchange has recently introduced this range LPP mechanisms rejection from this Monday for Index and stock Futures as well. You can check the detailed circular here:
https://archives.nseindia.com/content/circulars/FAOP55396.pdf
https://archives.nseindia.com/content/circulars/FAOP55488.pdf

coolkoti · February 2023

OK. Thanks for the information. This is helpful. However, the order 230208600242733 that got cancelled is at the price very close to the market price. Definitely within the 3% range. So, couldn't understand the mechanism behind it yet.

rakeshr · February 2023

the order 230208600242733

Your order was rejected by the exchange, with the exchange rejected message. These orders will have exchange_order_id in the order response.

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The order was cancelled by the exchange because the price is outside the current allowed limit price