What are the features and benefits of Super Multiple?
Features:
- Trade in volumes: Simply put, Super Multiple allows online trading customers to trade in large volumes on a particular script (or multiple scripts) on a given day even if their available margins may be limited.
- Futures Segment: Get up to 14 times exposure in the Future Index and up to 10 times exposure on Future Stock of specified scrips against your available margin. e.g., if you have a margin of Rs. 1 Lakh, you can get a maximum exposure of Rs.14 Lakhs in the Future Index via Super Multiple.
- Cash Segment: Get up to 14 times exposure against your margin, on specified scripts. e.g., if you have a margin of Rs. 1 Lakh, you can get a maximum exposure of Rs.14 Lakhs by placing a Super Multiple Order.
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Automatic Square Off: All positions using Super Multiple need to be squared off by 3:10 p.m. on any given trading day. If customers fail to do so themselves, the system automatically squares off their open positions.
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No Opposite Orders: Super Multiple does not allow you to make opposite orders on the same script at the same time. e.g. If you place a Buy Super Multiple with a Stop Loss order on script A, you cannot place a 'Sell Super Multiple' order on script A till your Buy position is squared off.
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Multi-platform access: Super Multiple orders can be placed on KEAT Pro X, Kotak Stock Trader (From Mobile Device) and on www.kotaksecurities.com .
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Track Margin Utilized via Super Multiple Orders: Log into your account and click on the 'Available funds' link which is under the tab 'Equity'. The Available Funds page will show you ‘Margin Utilized’. By clicking on the amount displayed under this column, you can get details on valuations and multiples offered on the script.
Benefits:
- Higher trading multiple on select scrips.
- Capitalize on market opportunities through higher exposure and trading large volumes.
- Limit losses through a Stop Loss Order.
- No worries about open positions, as Super Multiple auto squares off all open positions at the end of the trading day.
Frequently Asked Questions
How do I place an order using Super Multiple?
Please follow the steps mentioned below to place an order in a scrip using Super Multiple:
- Login to your trading section by entering your User Id and Website Password.
- Once inside the trading section, click on Equity menu and then click on Place an Order link.
- Choose the scrip that you want to buy/sell and specify the quantity that you wish to trade in. The orders in super multiple are placed at Market price by default. However our system will place a Stop Loss order with a trigger price set at a difference of 5% from the market price by default. Under the Order type, choose Super Multiple.
- Click on Place Order.
How do I modify orders placed using Super Multiple?
In order to modify the details of the order that you had placed earlier,
- Click on Check Order status in Equity menu.
- Click on the text box next to the name of the scrip under the Stop Loss order.
- On the next screen, change the details (please see next question for knowing more on modifying orders). Click on Change Order.
How do I manually square off positions I took on a scrip using Super Multiple?
To Square off the position that was taken on particular scrip,
- Click on Today's Positions in Equity Menu. This screen would show you the details on the scrip(s) that you had earlier bought/sold. Click on the text box adjacent to the name of the scrip and click on Place Order.
- On the next screen, you can set the price at which you would like to square off the position in that scrip(s) or simply square it off at market price by typing in "0" in the space provided. Please note that you can choose to square off your position in various lot sizes. For example; if you had bought 100 scrips of a company earlier, you can choose to square off the scrips in any lot size say 20 at a time then 35 then the rest and so on. However you can’t square off by selling /buying more scrips than what was transacted in the initial market order. In other words you can’t sell 120 shares when you had only bought 100 shares initially.
- Click on Place Basket Order.
- You will be shown a screen having the reference number of the transaction. You could also check the details of this transaction in Check Order Status. Here too, you can modify the order status if the order is in Open status.
Note: Please note that you can square off any open position in Super Multiple only through today’s positions. In case you place orders by not marking Super Multiple on an order. it will be considered a fresh order and hence not a square off to the Super Multiple order
What is a Buyback/Takeover/Delisting?
My order is getting rejected with the following error – ‘Order price is outside the trade execution range. Try placing the order again
My order is getting rejected with the following error – ‘The order was rejected to avoid self trade. Try placing the order again’.
Why was the stop loss executed even though the price did not breach the trigger?