Hello Traders,
From our early days, we have focused on building features, capabilities and technology infrastructure that allows us to serve the power traders.
Understanding the needs of such power trades, we introduced Iceberg Orders on Dhan back in August 2022. It was built with a clear purpose to help traders place large orders without impacting the market price or revealing their full intent. By slicing big orders into smaller, more manageable legs - all automatically, Iceberg Orders gave traders the facility to overcome the limitations set by the freeze limits on Option Contracts.
Iceberg Orders on Dhanās Exchange Trading System (DEXT) now let traders instantly slice large orders into up to 99 legs. With recent infrastructure upgrades to DEXT, weāve ensured smoother and more seamless performance.
These changes have also enabled us to deliver an advanced and enhanced version of Iceberg Orders called Icerberg Plus especially for traders who thrive on speed, agility and control while they are trading.
With the original Iceberg, each leg of your order would be placed sequentially i.e. the next leg would only be sent to the exchange after the previous one is sent. While this worked well in stable conditions and for reducing slippage, it had one limitation: the serial sequencing.
In fast-moving markets, even a few milli-seconds can mean missed opportunities. That is where Iceberg+ comes in. With Iceberg Plus, all legs of your sliced order are placed in the market
simultaneously, aiming for quicker execution while retaining the benefits of slicing.
The key highlights of this upgrade on Iceberg Plus+ is:
- Parallel Order Execution: All legs go to the exchange together, no more waiting for one to fill before the next is sent.
- Order Distribution: DEXT systems distribute the orders via multiple instances of Order Management Systems that are distributed across multiple-locations.
- Single Margin Validation: DEXT calculates the margin requirement for all sliced orders together, and ensures that margin block is maintained while all orders are executed.
- Seamless Trade Completion: Ideal for volatile markets where speed matters most.
- Reduced Impact Cost: With multiple legs competing for fill at the same time, your order has a higher chance of getting completed and achieving a price close to desire.
If you are executing high-volume orders & want to time your entries precisely, Iceberg Plus+ is your reliable ally to execute your large orders seamlessly while retaining the benefits of slicing.
How to enable Iceberg+
Well, it is automatically applied as long as you have the margin required to execute the Iceberg Order.
There is nothing that you have to do to access this feature. Just like before, you just input the quantity and slicing logic the way you want. If the quantity is more than the freeze limit it will automatically slice. The only difference? Now, your trade can be executed seamlessly with Iceberg Plus+.
For a detailed understanding on Iceberg Orders, watch this video:
What happens if there isnāt enough margin available?
DEXT will process the same Iceberg order sequentially - which is one by one, until the margin available is utilised just as it does usually before.
Iceberg Plus+ is available and live across all Dhan platforms - Dhan App, Dhan Web, Options Trader, ScanX & DhanHQ API. Try Iceberg on your next large order.
Trust me, you will feel the speed.
Happy Trading
Naman