Leading stock exchange BSE has decided to discontinue Stop Loss Market (SL-M) orders from October 9 to prevent erroneous order placement arising out of manual or algo trades.
This came after a recent freak trade incident caused a lot of angst among the trading community earlier this month due to an SL-M order.
SL-M is a type of order that automatically sells or buys a security at the market price when the trigger price is reached.
The Securities and Exchange Board of India has made its intentions crystal clear by getting on the offensive in its fight against unregistered financial influencers or finfluencers. But it must tread a fine line - Issue Date: Oct 01, 2023
Three Bengaluru-based firms — Boldfit, a manufacturer of health and fitness equipment; Fyers, an online trading platform; and Gameberry Labs, an online game publisher — came through as the top contenders for the spot.