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Orders, Execution & Market Structure

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Orders, Execution & Market Structure

Basket Order

A single instruction that submits orders in several securities at once, in preset quantities.

Test: one submission generates multiple child orders across different securities, each executing independently qualitative Orders, Execution & Market Structure

Bid Price

The highest price a buyer in the order book is currently willing to pay for a security.

Best Bid = highest buy limit price resting in the order book ₹ Orders, Execution & Market Structure

Bid-Ask Spread

The difference between the best ask and the best bid, representing the immediate cost of a round trip in a security.

Spread % = (Best Ask - Best Bid) / Mid Price x 100, where Mid Price = (Best Ask + Best Bid) / 2 % Orders, Execution & Market Structure

Block Deal

A large trade executed in a dedicated exchange window at a negotiated price within a narrow band around the reference price.

Test: minimum order value as prescribed by the exchange, executed in the block window at a price within the permitted band of the reference price ₹ crore Orders, Execution & Market Structure

Bracket Order

A three-part intraday order that places an entry together with a linked profit target and stop-loss, cancelling one when the other fills.

Bracket = Entry Order + Target Limit Order + Stop-Loss Order, with target and stop mutually cancelling qualitative Orders, Execution & Market Structure

Bulk Deal

A trade or set of trades by one client in a single security exceeding a stated percentage of its listed shares, which must be disclosed.

Test: total quantity traded by one client in a security on one day exceeds 0.5% of the number of shares listed %