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QFor whom is this facility available?AThis facility is available only for online trading customers.
QWhat is Super Multiple?AKotak Securities has introduced Super Multiple, a product that will give you exposure upto 40 times on your margin. With Super multiple, you get to trade more in currency and in larger volumes.
QHow does Super Multiple work currency segment?ASuper Multiple is designed for traders who wish to take the advantage of intra-day trading in huge volumes and thus make the most of market conditions. It is an auto square off product. With Super Multiple you can take a position on particular currency on a particular day and avail upto 40 times exposure on the initial margin. You will have to square off all your open positions within 4.40 pm on that day itself, after which our system will automatically square off your open positions.
QWhat will happen if I don't square off my positions by 4.40 p.m. On a particular trading day?ASince Super Multiple offers you high exposure levels of upto 40 times, it is necessary that you square off all your open positions on a particular day by 4.40 pm. In case you don't square off your positions, our system will automatically square off all open positions.
QHow do I place an order for particular scrip using Super Multiple?A
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 1.5% from the market price by default. Under the Order type, choose Super Multiple.
- Click on Place Order.
- On the next screen, enter your trading password in the space provided and click on Confirm.
QHow can I modify the order that I had placed earlier?A
- 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.
- On the next screen, enter your Trading Password and click on confirm
QWhat are the details that I can modify using Super Multiple?A
Clients can modify the details of the Stop Loss order that was placed by the system but not the Market order that they had placed initially as the market order would get traded the moment it is placed. Even in the Stop Loss order modification is possible only for the trigger price and not the quantity of scrips.
If you had placed an order (using Super Multiple) to buy 5 lots of USDINR at Rs. 54.6, our system would have placed a Stop Loss order to sell 5 lots of USDINR with a trigger price of say Rs.53.781.You can modify this Stop Loss order's trigger price to say Rs. 53.90, but not any value below Rs. 53.781.
Assuming you had placed an order to sell 5 lots of USD INR , our system would have placed a Stop Loss order to buy 5 lots of USDINR with a trigger price of say Rs. 55.419.You can modify the trigger price of the Stop loss order to say Rs. 55 but not any value above55.419.
Note: Clients can't modify the quantity of shares in the Stop Loss order.
QHow can I square off the positions that I had taken earlier in the day?A
- To Square off the position that was taken earlier in the day, 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 ex- if you had bought 5 lots of USDINR earlier, you can choose to square off the scrips in any lot size say 1 lot at a time then 2 lots 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 6 lots of USDINR when you had only bought 100 lots initially.
- Click on Place Basket Order
- On the next screen, you will have to fill in your Trading Password and click on the button Confirm.
- 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.
QHow do I know how much margin I have utilized?A
In order to know how much margin has been utilized while using Super Multiple facility, you need to click on Available funds link in Equity Menu. Once inside the screen, you can click on the amount displayed below the Margin utilized column to get details on the valuations and multiples offered on the scrip.
Important note: Any open position on a scrip using Super Multiple has to be squared off within 4.40 p.m. on that day itself, after which time our system will automatically square off all open positions
QWhich segments can I place Super Multiple orders in?ASuper Multiple orders can be placed in cash as well as derivatives segment.
QWhich exchanges can I place Super Multiple orders on?ASuper Multiple orders can be placed in NSE only.
Why Demat Account?
- Mandatory by SEBI
- Easy Portfolio Management
- Security of Equity Investments.
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