+ Expand All Smart Order Routing

Q What is SOR Routing (SOR) Facility?

ASOR is a facility that gets the best price for your buy/sell orders on available exchanges. When you select SOR, our system automatically compares the price of stock across the available exchanges and helps you get the best price instantly.
Q How does SOR benefit me?

ASOR offers you the following benefits:

- When placing an order using SOR, our system will get you the best possible price for your stock across all available exchanges (i.e. currently NSE and BSE) by evaluating the best bargain on the basis of price and market depth.

- You no longer have to manually search for a better price while placing an order. Our system does it for you in a matter of seconds.

- SOR can be used to get the best price for Buy as well as Sell orders.

- This service is offered free of charge
Q Are there any additional charges for SOR?

ANo. SOR is absolutely free of cost.
Q Who can avail of the SOR Facility?

AThis facility can be availed of by all the online trading account holders of Kotak Securities. You just need to activate this facility.
Q How to activate SOR facility?
A
On our website www.kotaksecurities.com :
1. Go onto the Place an Order Page.
2. Select SOR Option while placing an order.
3. A popup will open which prompts you to accept the Terms and Conditions.
4. Accept the Terms and Conditions to activate the facility.
5. If you press Not Now, you will be unable to place an order using SOR.
Using KEAT Pro X :
1. Visit the Weblinks section of KEAT Pro X.
2. Click on "SOR Activation".
3. A Pop Up will open, which prompts you to accept the Terms and Conditions.
4. Accept the Terms and Conditions to activate the facility.
5. You will need to logout and login again to start using the SOR facility on KEAT.
Q Is SOR Routing allowed in all segments?

ASOR is currently allowed only for CASH SEGMENT.
Q Is this facility available for all types of orders?

AThis facility is available for Online Cash segment orders (except MF & Super Multiple).
Q Is SOR allowed in all "Order Types"?

ASOR is allowed only for NORMAL Orders and not for Super Multiple and Margin Finance orders.
Q Can SOR facility be used while placing After Market Orders (AMO)?

ANo, SOR facility is not available while placing After Market Order (AMO).
Q What will happen if I have access to only one Exchange ?

ASOR cannot be used if you have access to only one exchange or Cash segment of only one exchange.
Q Can I place a "Limit order" using SOR?

AOrders placed using SOR will always be Market orders.
Q How does SOR work?
A
At the time of placing the buy/sell orders, you need to select the option of SOR. The system will then find the best price from all available exchanges i.e. currently NSE and BSE and then process your transaction accordingly.

Illustration:

Market Depth:

BSE NSE
Qty Rate Qty Rate
100 99 500 99.5
100 100 100 100.5
200 101 400 100.75
Order : Buy 1000
1. 100 quantities in BSE available for best price as 99
2. 500 quantities in NSE available for best price as 99.5
3. 100 quantities in BSE available for best price as 100
4. 100 quantities in NSE available for best price as 100.5
5. 200 quantities in NSE available for best price as 100.75
800 quantities in NSE & 200 quantities in BSE
Q What if the rates in the exchanges are same?
A
If for any scrip the prices available are the same then order splitting would occur with the exchange where more quantities are available.

Illustration:

Market Depth:

BSE NSE
Qty Rate Qty Rate
200 100 100 100
300 101 600 101
Order : Buy 500:
1. 200 quantities in BSE available for best price as 100
2. 100 quantities in NSE available for best price as 100
3. 200 quantities in NSE available for best price as 101
300 quantities in NSE & 200 quantities in BSE
Q What if both rates & quantity is same on the exchange?
A
If for any scrip the available prices and quantities are same then order would be sent to the preferred exchange, the remaining order will be sent to other exchange.

Illustration:

Market Depth:

BSE NSE
Qty Rate Qty Rate
100 100 100 100
200 101 200 101
Order : Buy 500:
1. 100 quantities in NSE available for best price as 100
2. 100 quantities in BSE available for best price as 100
3. 200 quantities in NSE available for best price as 101
4. 100 quantities in BSE available for best price as 101
Q Where will pending orders be sent in case an order placed is more than the market depth (of the exchanges put together)?
A
If the quantity of the order placed is more than the total quantity available in current market depths (of the exchanges put together), then after splitting the order on the basis of best price and best depth the remaining quantity will be sent to the exchange where the initial total quantity in market depth is more.

Illustration:

Market Depth:

BSE NSE
Qty Rate Qty Rate
100 100 150 99
Order : Buy 500:
1. 150 quantities in NSE available for best price as 99
2. 100 quantities in BSE available for best price as 100
3. Pending 250 quantities will be sent to NSE, as initially total quantity available in NSE is higher.
Q Where will pending orders be sent in case the order placed is more than the market depth and initial total quantity is same in exchanges?

AIf available initial total quantity in market depth while executing the order is the same in the exchanges then the remaining quantities would be sent to the preferred exchange.

Illustration:

Market Depth:

BSE NSE
Qty Rate Qty Rate
100 100 150 99
200 101 200 101
Q How do I square off my orders placed through SOR?

ABefore you square off your orders placed through SOR, please check your order status. You will have to square off the same quantity bought / sold in a particular exchange.
Example: If you placed a SOR for buying 100 shares of Kotak Mahindra Bank and these have been purchased as follows.

NSE - 40 BSE - 60

In the above scenario, you can square off 40 shares in NSE and 60 shares in BSE.

Important: Since SOR does not check for earlier bought / sold quantities, it is possible that shares can be bought / sold in different quantities again when you decide to square off using SOR.
Q How is Preferred Exchange selected?

APreferred exchange is automatically chosen on the basis of your daily average turnover for the last one year in CASH segment. The exchange with more daily average turnover will beconsidered as preferred for the next one month.
Q After activating SOR, will I still have the option of placing order on the exchange of my choice?

AYes, you will have the option of placing an order on the exchange of your choice.
Q From which modes of trading can I avail of the SOR Facility?
A
This facility is available for orders placed through,
- Website www.kotaksecurities.com
- KEAT PRO X
- Call & Trade
Q What will happen if I do intraday buy sell using SOR?

AConsider a case when you have put an order to buy 100 quantities of stocks under SOR and 50 stocks are purchased in NSE and the other 50 stocks are purchased in BSE.When you wish to sell these stocks in the same day, while selling you should not sell using the SOR condition. You will have to sell 50 stocks selecting BSE and 50 stocks selling NSE. In case you sell using SOR, there is a chance that the shares might come in some other combination, for example 75 in BSE, and 25 in NSE. In this case at the end of the day, you will end up buying 25 shares in NSE, and Short selling 25 shares in BSE.

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Security of Equity Investments.

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NSDL/CDSL: IN-DP-NSDL-23-97

BSE		NSE
Qty	Rate	Qty	Rate
100	99	500	99.5
100	100	100	100.5
200	101	400	100.75