Issue with Basket Order Execution

[Raghavbhat]

I am writing to bring to your attention a significant issue I encountered with a recent basket order I placed through your platform. The situation has caused me considerable losses, and I would appreciate your prompt attention and resolution of this matter.

Today, I placed a basket order consisting of 2 sets: 100 lots for buying and 100 lots for selling Sensex options, with the intention of creating a hedge that would provide margin benefits. The initial basket order displayed a margin requirement that was well within the available funds in my trading account, which led me to believe that the execution would proceed smoothly.

However, when I executed the trade using the basket order, only the buy orders were executed successfully, and the sell orders were inexplicably rejected. This outcome rendered the intended hedge ineffective and resulted in significant losses, compounded by brokerage fees.

I attempted to rectify the situation by re-entering the sell orders separately, but unfortunately, I encountered the same issue. Despite multiple attempts, only the buy orders were executed, leaving me exposed to unnecessary risk and losses.

I firmly believe that this situation is unfair to traders like myself. When the basket order initially indicates a specific margin requirement, it should execute as such. Either the entire basket should be executed or none at all, as partial execution in this case defeats the purpose of creating a hedge.

I kindly request that you thoroughly investigate this matter and take the necessary steps to rectify the issue promptly. It is crucial to ensure that the basket orders on your platform perform as expected, providing traders with the reliability and confidence needed to manage their portfolios effectively.

I look forward to your prompt response and a resolution to this matter.

Thank you for your immediate attention to this pressing matter.

I hope you would give a fair solution to this as I would like to continue with your platform however if I incur such unfair losses and non execution of order because of broker issue or non execution of proper margin then I might have to shift to another broker. I hope you will give a fair solution to this.
I also tried contacting them through the chat but no one replied there.

Update:
I called the dhan customer care number and they asked me to try again by keeping the order in a hedge manner, which i explained to them that was already what i had done previously.
However even though i tried again after the call and it still failed.
The following is the picture of the basket order which i wanted to execute however only the buy orders were getting executed.
Would appreciate if you could take this matter seriously as this would just incur losses for sellers unnecessarily which is unfair.
You can clearly see that the final margin and overall margin required is almost half of my available funds yet this issue happened today whole day.
I would request you to give a fair solution to this.
Looking forward to fair and quick solution.
Regards,

[Naman]

Hi @Raghavbhat

The margin requirement on the basket order is shown based on the individual leg’s margin required and adjusted for the hedge benefit. The hedge benefits are based on two criterion : Buy & Sell or Call & Put.

Now this margin requirement holds true only when the orders in the basket are executed ( just not placed) in the same order as available in the basket. Sometimes it may happen that the orders are not executed in the same order. Reason Explained here

Order placement - Error

Hi @t7support We have gone through your order logs and found out few things. This is a rare phenomenon and can happen with anyone. There is little control of broker in this. Here is the explanation: Let us first understand the execution of Basket Order. The basket order is placed in the same sequence as arranged in the basket. You will get the hedge benefit upfront (or the overall margin will be same as shown in basket) only when the sequence of execution of orders is followed. There may be a …

Our margin requirements are decided basis exchange requirement and updated in real-time by our RMS. Also, we would like to get on a call with you to understand your case in more detail, kindly dm me your contact details.

[Raghavbhat]

Thank you for your reply,
So to summarize you are stating in the reply that you shared,that even if the sequence of order in the basket ie. Buy then sell then buy sell is correct it may still not be executed in the same order causing the margin issue?
If i underatood this correctly then how can i make sure as a seller that my sell order will be executed and not just the buy orders from the basket?
Also to make it clear. After my buy orders were executed and the basker sell orders were failed. I specifically went and try to sell the sell orders manually againt my open buy orders yet the same issue was mentioned as in insufficient funds.
So doing this manually isnt helping either.
I would like some clarity from your side as by keeping this, this way doesn’t give confidence to someone who is dealing with bigger lot sizes.
I hope you underatand.