Page 108 - DCOM507_STOCK_MARKET_OPERATIONS

Unit 5: Trading System in Stock Exchange

already set in the Market Watch window. The information presented is the same as that of Notes
the Marker Watch window.
7. Order/Trade Window: This window enables the user to enter/modify/cancel orders and
to send request for trade cancellation and modification.
8. Message Window: This enables the user to view messages broadcast by the exchange such
as corporate actions, any market news, auctions related information etc. and other messages
like order confirmation, order modification, order cancellation, orders which have resulted
in quantity freezes/price freezes and the exchange action on them, trade confirmation,
trade cancellation/modification requests and exchange action on them, name and time
when the user logs in/logs off from the system, messages specific to the trading member,
etc. These messages appear as and when the event takes place in a chronological order.

Self Assessment

State whether the following statements are true or false:
5. Abnormal market consists of various book types in which orders are segregated as Regular
Lot Orders, Special Term Orders, and Stop Loss Orders depending on the order attributes.
6. In the auction market, auctions are initiated by the exchange on behalf of trading members
for settlement related reasons.
7. The trading member has the facility of defining a hierarchy amongst its users of the NEAT
system.
8. The corporate manager is a term assigned to a user placed at the highest level in a trading
firm.

5.3 Order Management

Order Management consists of entering orders, order modification, order cancellation and order
matching.

5.3.1 Entering Orders

The trading member can enter orders in the normal market, odd lot, RETDEBT and auction
market. A user can place orders in any of the above mentioned markets by invoking the respective
order entry screens. After doing so, the system automatically picks up information from the last
invoked screen (e.g. Market Watch/MBP/OO/SQ and Security List). When the user invokes the
order entry screen, the fields that are taken as default are Symbol, Series and Book Type.

In case of other fields, the system takes the following defaults:
Qty Regular lot quantity available at best price on counter side
Price Price of best counter order
Pro Trading member ID of the user
Order Duration Day

Disclosed quantity Fully Disclosed
Participant ID Trading member ID of the user
Active & Passive Order

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