Hello Traders,
At Dhan, we have always built our platforms based on feedback and suggestions from users.
Back in August 2022, we realised that many large and professional full time traders found difficulties in placing large orders and taking large positions. They will have to place multiple orders, or add multiple orders in baskets and have to keep track of changes in freeze limit quantities for options, etc - all these resulted in delays of execution, slippages of trades and eventually losing potential trading opportunities.
We introduced Iceberg Orders, to help you break big orders into smaller parts and place them smartly, one at a time and automatically execute them in a single go - even if you had to enter the market, or exit. Iceberg Orders on Dhan because the go-to orders for power traders wanting to take large trading positions.
We further made massive upgrades to our core infrastructure and processing of large orders on DEXT and introduced Iceberg+ which enabled even faster execution of large quantities of Iceberg orders by combining this with our DEXT trading engine, it helped traders execute these orders really really fast.
Many of you have been using Iceberg+ Orders for trading in index options and futures. It helps you get faster execution without juggling between tabs. But till now, there was one limit: you could place only 99 legs in one Iceberg Order. We are now changing that.
You can now place Iceberg+ Orders with up to 250 legs in a single order!
With this update, traders can now place Iceberg+ Orders with up to 4,50,000 quantity or 6,000 lots in Nifty derivatives contracts and up to 2,50,000 quantity or 12,500 lots in Sensex derivatives contracts.
This upgrade helps you place much larger trades with more control and flexibility. This works exactly like before. You enter your total order quantity, select the price and other details on the order window. You can manually enable the iceberg toggle and input the number of legs you want.
And if the order quantity is more than the freeze limit set by the exchange, it will automatically enable iceberg and slice in equivalent legs. Once the order is placed, each leg will be sent to the exchange as a separate order.
This upgrade is now live on Dhan App & Web. Soon, it will be available across all Dhan & Options Trader platforms, including DhanHQ API.
Iceberg+ Orders are built to make high-volume trading simple, and with the new 250-leg update, you now have more room than ever to scale your strategies.
Try it out and let us know how this helps in your trading journey.
Happy Trading,
Naman