When you place an F&O order on Samco, you will notice two product types – MIS and NRML. Choosing the right one determines whether your position is treated as intraday or carried forward to the next day.
NRML
NRML stands for Normal. When you place an order as NRML, you are taking a regular F&O position that can be carried forward until expiry. You pay the full exchange-mandated margin SPAN plus exposure margin to enter the position.
Use NRML when you want to hold your F&O position overnight or for multiple days.
MIS
MIS stands for Margin Intraday Square-off. When you place an order as MIS, your position is treated as intraday and will be automatically squared off at 3:15 PM if you haven’t closed it yourself.
MIS orders typically require a lower margin than NRML since the position is not carried overnight. However, as per current SEBI regulations, brokers are not permitted to offer reduced margins for intraday F&O positions so at Samco, the margin requirement for MIS and NRML in F&O is the same.
Use MIS only when you intend to close your position within the same trading day.
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