The new exchange regulation has capped the maximum size of an order to 10,000 on nifty after the flash crash.
The issue is market has become very illiquid. The impact cost actually is much higher if you trade more than 20 lots at a time.
I have seen cases where in a product as liquid as Nifty options, people losing a 1+ point on nifty for an order of 200 lots.. The impact cost itself would be more than Rs10000 just to enter.. Actually for higher volume trader, brokerage is least of the things to worry about(atleast with our pricing), impact cost can be huge.. 1 enter and exit could mean almost upto Rs 20000 just in impact cost.. The scenario is extremely crazy when trading stock futures/options/ equity for the higher volume guys..
We are on the verge of launching something super cool for people worried about impact cost(higher volume traders).. A tool which typically is accessible only to institutional traders, this would come with rental cost's and similar such requirement.. But for a high volume guy, the saving in impact cost could be in lakhs..
Will keep you all posted..
I could not understand , I was happy with 300 lot before , because in Rs 20 we can trade in 15000 nifty , now we have to pay more and need two orders, I hoping to increase lot size to 500, but they decrease to 200.
One suggestion, please change in your RMS that if by mistake we put 15000 in NIFTY, the RMS should reject the order before sending to NSE, because in NSE order will frozen and it will take time to delete the order.
Please refer the circular from NSE, they change lot size by value of Index, if Nifty will come down to 5000 , than again they allow 300 lots in one order.
We can use basket order, if you want to put 30-40 K in just 2-3 click, right click on market watch. Choose basket order, than feel your price , and click add 2 time for 20 k and 3 time for 30 k , and click place, your 2-3 order will be placed.