The MSE trading system provides flexibility for placing different types of order. Each order entered in the system is allocated a unique order number, time-stamped and processed for potential match. If no suitable match is found, then the orders are stored as pending orders in the Order Book or till such time the order has been cancelled or at End of Day.
Presently MSE has following types of books:
- Regular Lot Book - The Regular Lot Book contains all regular lot orders.
- Stop-Loss Book - Stop Loss orders are stored in this book till the trigger price specified in the order is reached or surpassed. When the trigger price is reached or surpassed, the order is released in the Regular lot book with a time stamp of the trigger time, i.e., when the order is triggered and released in the regular lot book.
The stop loss condition is met under the following circumstances:
- Sell order triggered when last traded price = < trigger price
- Buy order triggered when last traded price > = trigger price