Why are Stoploss Market (SL-M) orders blocked on BSE?

Stoploss Market (SL-M) orders are currently restricted for all instruments traded on BSE across the equity, equity derivatives (BFO), currency derivatives (BCD), and commodity derivatives segments. This restriction is in place as the exchange (WEB) has discontinued Stoploss Market (SL-M) orders.

The purpose behind this change is to enhance security measures and prevent the execution of orders significantly away from the prevailing market prices. This precautionary step helps mitigate the risk associated with the placement of potentially erroneous orders.

However, it’s important to note that Stoploss Limit (SL) orders can be utilized as an alternative to Stoploss Market (SL-M) orders. If you are unfamiliar with how to use Stoploss Limit (SL) orders in a manner similar to Stoploss Market (SL-M) orders, you can refer to our guide on “How to use Stoploss-limit(SL) order like a Stoploss-Market(SLM) order?”

Please be aware that any attempt to place SL-M orders on BSE will result in rejection with a specific error message.