Leading stock exchange BSE has introduced a new facility to place multiple quotes in equity and currency derivatives segments through a single request message.
Under this facility, a trading member can place buy and sell side order quantity and price for the same contract and same client in a single request.
This facility has become effective from Monday.
The exchange said that trading members can place up to 99 quotes through a single request message. These multiple quotes can be entered across different contracts which belong to the same product.
A quote can be either single-sided (either buy or sell quote) or double-sided (both buy and sell quotes). Every quote request will have a limit price and quantity would be fully disclosed.
"All quotes shall have the retention type of end of session. Quotes that are part of a single request message have to be placed for the same client code," BSE said.
Regarding modification of quotes, BSE said trading members can modify either one or multiple quotes through a single mass quote request message.
In case a member is moved into risk reduction mode, all pending quotes would be deleted.