A "Disclosed Quantity" order is a special type of order where only a part of the actual quantity you want to buy/sell is displayed to the market. The disclosed quantity needs to be specified, and once the order is sent to the exchange, only this disclosed quantity is visible in the market depth to other traders.

How does a ‘Disclosed quantity’ order work?

If a user places an order with a quantity of 10,000 and a 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 until the complete order quantity is filled.

What are the ‘Disclosed quantity’ order restrictions?

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

  • Only allowed in Equity (Cash), Currency (CDS), and Commodity (MCX).
  • Not allowed in the F&O segment.
  • Minimum disclosed quantity is 10% of the actual order quantity for NSE/BSE Equity and NSE CDS orders.
  • For MCX, it is 25% of the actual order quantity.
  • Disclosed quantity cannot be more than the actual order quantity.
  • Not allowed in pre-open and post-market closing sessions. 

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

  • Useful for buying/selling stocks in bulk quantities.
  • Particularly relevant for larger order quantities, not small orders like 10 or 100.
  • Used by High Net Worth Individuals (HNIs) to mask order size and protect against price manipulation.

How 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.