Bracket Orders - Terms and Conditions

Bracket Orders

A Bracket order (BKTIntraday) is a special type of order where you can enter a new position (intraday only) along with a target/exit and a stop-loss order. As soon as the main order is executed, the system will place two more orders (Profit-taking / Target and Stop-loss). When one of the two orders (profit taking / Target or Stop-loss) gets executed, the other order will get canceled automatically.

Bracket Orders - Terms and Conditions

Terms & Conditions

The Client understands, agrees and is aware that:

  1. During period of high markets volatility, sometimes there is a chance that both Target and Stop-loss orders could get executed almost simultaneously. This scenario may result in an unintended additional open position, which will then be auto-squared-off by the system. Client Acknowledgement and Acceptance:
  2. The client agrees and accepts that if, for any reason beyond our control, such as force majeure events, disruptions in the communication network, system failures, slow or delayed system responses, trading halts, or the application of circuit filters by the Exchange, open positions could not be squared off and are carried forward, the client is expected to square them off on a best effort basis as soon as possible. Any and all losses arising from such events will be borne solely by the client.
  3. Furthermore, the client agrees and accepts that he/she will not hold Tradebulls Securities (P) Limited (referred to as Tradebulls), their directors, officers, or employees liable for any loss that may be sustained as a consequence of availing of this facility. All terms and conditions of the agreement that are executed shall remain effective and in force in all respects until terminated in terms thereof.
  4. The client agrees that the facility provided by Tradebulls Securities (P) Limited (referred to as Tradebulls) is an additional service and understands that alternative means such as online platforms, mobile applications, etc., are available for placing orders. The client acknowledges that Tradebulls shall not be responsible for any losses, including notional or actual, arising from the client's usage of this facility.
  5. Bracket orders can be placed from the market opening at 9:15 AM until market closing at 3:15 PM on trading days. It is important to note that Bracket Orders shall not be available during pre-opening or post-closing sessions.
    Tradebulls Securities (P) Limited reserves the right to amend the timing for Bracket Order placement at its sole discretion. The Bracket order window may be closed at any time, before or after 3:15 PM, without prior notice and without assigning any reasons. Tradebulls shall not be held responsible for any costs or losses, direct or indirect, arising from the non-availability of the Bracket order window at any point in time.
  6. The Client acknowledges and agrees to the following regarding margin requirements and adjustments for order placement:
    • Initial Margin Block: For a fresh order, the margin shall be blocked at the applicable margin requirement of the order value at the First Leg.
    • Market Orders: In the case of market orders, the margin shall be blocked considering the order price as the last traded price of the contract. Upon execution of the order, the margin shall be suitably adjusted as per the actual execution price of the market order.
    • Order Modification: In the event of order modification, the required margin shall be re-calculated. Any excess margin shall be released, or additional margin required, if any, will be blocked accordingly.
    The Client acknowledges that margin requirements are subject to change based on market conditions and regulatory requirements.
  7. The Client acknowledges and agrees to the following regarding the Second Leg or the Third Leg order placement and execution:
    • Market Rate Execution: The Second Leg or the Third Leg order shall be placed for execution as and when the prevailing market rate reaches the trigger price set by the Client.
    • Execution Variance: It may occur that such an order shall be executed at a rate different from the trigger rate due to movement in the market prices.
    • Non-Guarantee of Reversal: The client acknowledges that Tradebulls does not guarantee or assure the reversal of the position at the stop-loss price of the client.
    • Limitation of Liability: Tradebulls shall not be liable for any loss, notional or otherwise, due to a difference in execution and the stop-loss price.
    The Client understands and accepts the inherent risks associated with market fluctuations and order execution variations.
  8. Client Responsibility and Trade Discrepancy Resolution:
    • Market Monitoring: The Client shall keep track of the market and execute/modify stop-loss orders as per their risk parameters.
    • Denial of Trades: The Client cannot deny trades solely based on the high leverage utilized. It is the Client's responsibility to manage and monitor their trades effectively.
    • Discrepancy Reporting: Any discrepancy in trades should be immediately brought to the notice of Tradebulls by writing to feedback@tradebulls.in.
    • Timely Reporting: Discrepancies, if any, must be raised within 24 hours from the trade date to ensure prompt resolution and investigation.
  9. Position Management and Margin Requirements:
    • Execution Timeframe: In case the Second Leg / Third leg of the order is not executed till 3.20 PM or such other time as Tradebulls may, at its sole discretion decide, Tradebulls shall endeavour to square off the open position.
    • Carry Forward: If the position is not squared off before the closure of the market, it shall be carried forward to the next day. The client must ensure adequate margins are available in their account with Tradebulls to prevent margin shortfalls.
    • Margin Shortfall: In the event of a margin shortfall, positions may be squared off based on the risk management policy of Tradebulls. Margins shall be placed in the form of funds and/or securities subject to appropriate haircuts as per Tradebulls' risk management policy.
  10. Tradebulls does not guarantee that orders placed for the square-off of all open positions will be successfully executed. In the event that orders placed for square-off are not executed due to reasons beyond Tradebulls' control, such as price band restrictions, technical glitches, software malfunctions, etc., the client acknowledges that these situations may result in the delivery of securities.
    The client understands that failure to square off positions may lead to additional margin requirements and pay-in obligations, both for funds and securities. The client agrees to fulfill these obligations promptly. Any costs, expenses, or charges arising from these obligations or the failure to meet them shall be borne by the client.
  11. The client acknowledges that any costs, including interest, additional brokerage, or any other charges, shall be solely borne by the client and acknowledges that any losses arising from delays in square-off, whether actual or notional, shall be the sole responsibility of the client, and Tradebulls shall not be liable for such losses.
  12. Though Tradebulls shall take best efforts to square off all the unexecuted orders within timelines provided, however, technical / system related / communication failure issues or other glitches and constraints beyond control of Tradebulls may prevent Tradebulls from squaring off the same within timelines and that in such scenarios, Tradebulls shall not be held liable for any losses incurred thereon.
  13. All trades are subject to the bye-laws, rules, regulations, notices of exchanges, and regulations/circulars issued by SEBI.
  14. Modification of Bracket Order: After execution of the First Leg, the Second Leg (Stop Loss) order can be modified until it reaches the trigger price. Margin requirements will be recalculated accordingly. If available margin with Tradebulls is insufficient, the order modification request will be rejected.
  15. Square-off: Positions will be squared off immediately upon triggering of the stop-loss price. Square-off can also be initiated by the client before 3:15 PM or at such time as provided by Tradebulls from time to time.
  16. In case of execution of the First Leg, the Stop Loss/Target order cannot be cancelled. The client can only modify the Stop Loss trigger price or convert it to a market order for square-off. If the First Leg is pending, the entire bracket order must be cancelled together. Tradebulls shall not be responsible for any losses, obligations, or liabilities arising from delays in order cancellation.
  17. Tradebulls may discontinue this facility at its sole discretion without prior notice to clients at any time.
  18. I confirm that I / we have read and understood the Risk Disclosure Documents and the risks associated with trading in stock markets, as well as the Rights and Obligations applicable to stockbrokers and depositories and Depositories and the Dos and Don’ts’ and confirm to abide by the same at all times.