Why was my order rejected with the reason "Order Value is greater than Maximum"? What is the quantity freeze limit / maximum order quantity for F&O?
Quantity Freeze Limit is a risk control measure introduced by NSE for the F&O segment. It is the maximum number of contracts (in terms of quantity) that can be bought or sold in a single order.
For example, the quantity freeze limit for NIFTY futures is 1,800. That is, you cannot buy/sell more than 1800 contracts (quantity) in a single order. With a lot size of 50, this translates to not being able to buy/sell more than 36 lots in a single order. If you place an order above this limit, it will be rejected.
- The limit for equity (NSEFO) and currency (NSECD) orders is capped at Rs. 5 crores per order.
- For index contracts, the order limit is based on the level of the underlying index:
BANKNIFTY | 900 | 900 / 30 = 30 |
NIFTY | 1,800 | 1,800 / 75 = 24 |
FINNIFTY | 1,800 | 1,800 / 65 = 27 |
MIDCPNIFTY | 2,800 | 2,800 / 120 = 23 |
NIFTYNXT50 | 600 | 600/25 = 24 |
Index Level (From) | Index Level (To) | Quantity Freeze Limit |
---|---|---|
0 | 5,750 | 8,500 |
5,750 | 8,625 | 5,500 |
8,625 | 11,500 | 4,200 |
11,500 | 17,250 | 2,800 |
17,250 | 27,500 | 1,800 |
27,500 | 40,000 | 1,200 |
40,000 | 55,000 | 900 |
55,000 | above | 600 |
If you want to place an order beyond the limit for NIFTY and BANKNIFTY, we have introduced a Split-Order feature. For the other contracts, you may use the Basket Order functionality.
Orders rejected due to the quantity freeze limit will have the following error message (Order Value is greater than Maximum) in the order book on TraderX:
For clarification, click here
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