‘Disclosed quantity’ order is a special type of order wherein only a part of the actual quantity that you want to buy/sell is displayed to the market. You need to specify the quantity to be disclosed for such an order. Once this is done, the order is sent to the Exchange and only the ‘Disclosed quantity’ is shown in  the market depth to other traders.

Sections:

  1. How does a ‘Disclosed quantity’ order work?

  2. What are the uses of a ‘Disclosed quantity’ order?

  3. What are the ‘Disclosed quantity’ order restrictions?

  4. How to place a ‘Disclosed quantity’ order?

How does a ‘Disclosed quantity’ order work?

If a user places an order with an order quantity of 10000 and ‘Disclosed quantity’ set as 100, the order is sent to the Exchange and only the ‘Disclosed quantity’ of 100 is displayed in the market depth. Once this quantity of 100 is fully traded, the next ‘Disclosed quantity’ of 100 will be released for trade by the exchange. This will happen until the complete order quantity is filled.

What are the ‘Disclosed quantity’ order restrictions?

There are certain restrictions on placing a DQ order and they are as follows:

  • ‘Disclosed quantity’ orders are only allowed in Equity (Cash), Currency (CDS) and Commodity (MCX).    

  • ‘Disclosed quantity’ orders are not allowed in the F&O segment    

  • For NSE/BSE Equity and NSE CDS orders, the minimum ‘Disclosed quantity’ is 10% of the actual order quantity. 

  • For MCX it is 25% of the actual order quantity    

  • ‘Disclosed quantity’ cannot be more  than the actual order quantity    

  • ‘Disclosed quantity’ orders are not allowed in pre-open and post-market closing session    

What are the uses of a ‘Disclosed quantity’ order?

Disclosed quantity is useful when a user wants to Buy / Sell stocks in bulk quantities at one time such as a few thousand or hundreds of thousands. It may not be relevant for small order quantities like 10 or 100.  

Used by HNIs, the disclosed quantity feature is used to mask an order size. This is done so that the demand and price of the ordered stock don't rise up and the person placing the order is protected from paying higher prices for his/her order.

How to place a ‘Disclosed quantity’ order?

To place a ‘Disclosed quantity’ order, 

  • Click on the dropdown arrow of additional settings from the order entry screen  

Enter the desired ‘quantity’ to place your ‘Disclosed quantity’ order.