Order splitting feature lets you place orders having lots more than the maximum limit set by the exchange. For instance, the maximum allowed lots per order for Banknifty is 60 (as of Dec 2023). If an order is placed containing more than 60 lots, it will be rejected by the OMS. To allow you to place orders containing lots more than the permissible limit, we have introduced the order splitting feature. This allows you to place orders having more lots than the allowed lots per order with a single tap.

How it works: 

Order splitting splits your order into multiples of max allowed lots per order and then places them one by one. This saves time as now you don’t need to place the same order again and again, nor do you need to create a basket of orders.

For example, in the case of BankNifty whose max allowed lots per order is 60:
1. You are placing a Banknifty option order containing 75 lots then 2 orders will be placed, one order of 60 lots and one order of 15 lots. The brokerage charged will be that of 2 orders.
2. You are placing a Banknifty option order containing 150 lots then 3 orders will be placed, two orders of 60 lots and one order of 30 lots. This allows you to place 150 lots in a single tap. The brokerage charged, in this case, will be that of 3 orders.

3. You are placing a Banknifty option order containing 55 lots then only 1 order of 55 lots will be placed. Brokerages charged will be of 1 order.

Note: Though order splitting seems like placing a single order, internally it splits the orders into multiple orders. Hence, brokerages charged will depend on the number of orders actually placed.

How to use this feature: 

1. Select the index option of your choice.

2. Enter the required lots for the order

3. If the number of lots exceeds the maximum number of lots allowed per order by the exchange, then order splitting will automatically prompt you "this order will be placed as multiple orders".

4. Select “Agree & continue” to place your order.