Terms and Conditions(Super Multiple)

Terms and conditions for availing Super Multiple and / or Super Multiple Option Facility. Super Multiple Option is available as Bracket Order for Offline customers.

I / We being a client understand, undertake, authorize, confirm, declare, bound, abide and agree to Kotak Securities Limited (KSL) that:

a.   with Super Multiple facility, I/We can initiate a trade in Cash and Futures segment at market or limit price and with Super Multiple Option facility, I/We can initiate a trade in Equity Options segment and Currency Derivatives segment at market price only.

b.  along with the initial order at Market Price/ Limit price, I/We also needs to place Stop Loss Order / trigger price. I/We further understands that I/ We can check the order status in order status window on KSL website www.kotaksecurities.com or trading platforms and if required, modify the same.

c.  if the initial order is unexecuted and remains open or partly traded till the time stated hereunder, the system may cancel all the unexecuted orders and square off all the open super multiple positions any time after time stated hereunder, without any intimation to me/us at the then prevailing market price. All the losses and financial charges on account of such liquidation/closing out / squaring off shall be charged to and borne by me/us.

d.  Notwithstanding anything contained herein, KSL may at its sole discretion, determine the time of sell / Securities to be liquidated, and / or which contract(s) is / are to be closed even before auto square off time without any further notice to me/us.

e.  the orders can be placed only for specific securities / Contracts during normal market hours or any other time as per sole discretion of KSL. Selection of Securities/ Future contract / Options contract are based on risk parameters of the securities / contract and can be changed at absolute discretion of KSL.

f.  any order, being initial order, stop loss order or square off order, if remains unexecuted due to any reason, including the technical issue, system issues, circuit in market etc for which KSL shall not be held responsible. In such case, I / We agrees to indemnify KSL for all losses, charges, penalties, cost etc and agrees to debit my / our account and pay the contract amount, margins, MTM (Mark to Market) etc on any open positions at the end of the day without raising any objection / dispute as prescribed under regulations, to avoid penalty being charged.

g.  I/ We have an option to convert super multiple trade in delivery trade, if sufficient margin is available in my / our account to the satisfaction of KSL.

h.  In case of volatility or low market depth, the order may get executed at a price which may be substantially different from the one placed, thereby paving the way for the stop loss getting triggered.

i.  I / We being online client shall monitor my / our open positions, ledger balances, margin requirements etc and shall be responsible for the risk, losses, penalties etc related to the trade.

j.  I / We am/are aware of the process, FAQ available on the website of KSL, associated with this facility and further keep myself / ourselves updated with any changes in the features, terms and conditions and FAQs related to Super Multiple / Super Multiple Option Facility, as updated / modified by KSL on its website from time to time.

k.  Super Multiple Option is a unique intraday Product, wherein Risk of loss is higher due to higher leverage offered than usual derivatives future trades and by placing the order, I / we confirm my / our risk appetite and understand the risk of losing entire capital invested and chance of going out of money.

l.  Since the trading is facilitated through satellite/leased line based communications & combination of various technologies, there may be possibility of communication failure or system problems or slow or delayed response from system or trading halt, or any such other problem/glitch, which is beyond the control of KSL, which may lead to non-access to the trading system/network, and may cause delay in processing or not processing orders either in part or in full. In such case i / we shall ensure that its order is not get duplicated or avoided. I / We agrees that KSL shall not be responsible for any loss arising out of execution of duplicate order or non-execution of the order placed by me/ us.

m.  The Super Multiple / super multiple option order facility is offered to me / us on a strictly best endeavour basis. I / We shall not hold KSL liable for any failure, inaccuracy, human error, and delay in executing an instruction for technical or operational reasons. KSL shall not be responsible for any actual or potential financial loss or expense, which may incur for any reason or due to delay or change in market conditions while executing the order and for the reason which is beyond the control of KSL being network failure, exchange circuits, force majeure events etc.

n.  KSL reserves the right to withdraw Super Multiple / Option order facility from their website / Keat Pro X/ Mobile Trading app and other platforms, without any prior intimation and the I / We shall not hold KSL responsible for such actions for any loss.

o. I / We have read and understood the contents of all the documents/policies available at http://www.kotaksecurities.com/ksweb/Important-Policies including Risk Disclosure Document and I / we shall be bound by such provisions as outlined in those documents.

p.  KSL has every right to change auto square off time without any prior intimation to me / us .

q.  any dispute relating to or arising out of this understanding shall be resolved/adjudicated as per the terms of the agreements and courts at Mumbai shall have exclusive jurisdiction.

r.  This facility is unique and shall not be merged with other products / facilities of KSL.