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What is a ISS Online Trading account?
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A ISS Online Trading account is more than a broking account. It offers you a unique
3-in-1 account, which integrates your Broking, Bank and Demat accounts. This means
that you can buy and sell shares at the click of the mouse and the processes like
clearing, settlement, pay-in and pay-out follow automatically through our high end
technology solutions. ISS Online Trading account allows you to integrate your Trading
account with ISS Enterprise Limited [Erstwhile: ISE Securities & Services Limited] and Demat account at Interconnected
Stock exchange of India (ISE). You need to open a bank account at any branch of
HDFC Bank, if you have no bank account with this bank. Particulars of this
bank account are required to be submitted along with a proof(s) of having such a
bank account, if not registered with earlier Client Registration form.
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If I already have an Offline trading and Demat account with ISS, do I need to open
a new account?
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No. If you already have a Trading and Demat account with ISS and a Bank Account
with HDFC Bank, you can link these accounts to your trading account. However,
you need to execute a supplemental agreement for Internet Trading account on a stamp
paper of appropriate value
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How do I operate my account?
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Your ISS Online Trading Account allows you to trade over the internet using a secured
User name and Login Password. www.nowonline.co.in In case of any difficulties, you can
get your orders executed over the phone through your sub broker (Additional requirement
to be fulfilled by subbroker for this facility )
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Who is eligible for this service?
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Any Indian resident individual who is a Major (conditions apply), can register as
a client for the ISS Online trading. However, to become a member, you must have
a Demat account with ISE and a bank account with HDFC Bank. Only Resident
Individuals will be allowed the ISS Online Trading account.
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How do I become a ISS Online Trading customer?
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You can become a ISS Online Trading customer by filling a single set of forms available
at all ISS Branches. These forms will help you to open a Trading account along with
a Demat account. You need to open a bank account with HDFC Bank, if you do
not have any bank account with them. Please ensure that your Internet banking facility
is activated at your bank for online fund transactions.
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I have sent in my application, what happens next?
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Your application will be processed and you will be informed once your application
is accepted and all the required accounts are set up. In case, your application
is not processed because of lack of some details, you will be informed accordingly.
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How do I know my application has been accepted?
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As soon as your application is accepted and account is opened, we will inform you
by e-mail. You will also receive a welcome letter and a PIN Mailer which will include
your Login ID and your Login and Trading passwords. Pass words reset option will
be done by ISS head office only The clients can contact the sub-broker who in turn
can contact ISS head office for resetting the password
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Do I have to maintain any deposit with ISS Services Ltd. for the broking account?
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No, you need not maintain any minimum balance with ISS. Only when you intend to
execute a buy trade, you have to have balance in your trading account or you can
transfer the required amount online in favour of ISS through the internet Fund Transfer
option available at ISS Online Trading system. However, ISS reserves the right to
call for margin deposit, if required.
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Products offered in ISS online Trading Account ?
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We will be offering two products in ISS Online trading for cash segment i.e. MIS
and CNC
MIS option :
MIS stands for “margin intraday square off ” .In MIS product the client can purchase
shares depending upon the VAR margin e.g. Suppose the client has Rs 10,000 in the
ledger account as per voucher date .The Var margin for SBIN is 20% then the client
can purchase Rs 50000/- value of shares If the client does not square off the position
of Rs 50000/- taken under this option (MIS ) before 3.15 pm . Then the position
will be auto squared off by ISS at 3.15 pm to 3.30 pm Trade to Trade scrips cannot
be purchased under this option (MIS )
CNC option :
CNC stands for “cash and carry “.In CNC product the purchase the shares only for
taking delivery of shares .Shares can be purchased only to the extent of money available
in the account i.e credit balance in the ledger as per voucher date balance . e.g
Suppose the client has Rs 20000/- in the ledger balance , then he can purchase shares
having value of Rs 20000/- only Securities lying in the ISE demat holding can be
sold (delivery selling ) by using the CNC option There will be no margin block or
utilization on Selling demat holding securities.
In futures and option segment the products offered is NRML i.e Normal .Only one
product The margin blocked will as per exchange regulations (SPAN margin )
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Which Bank Account can I use for ISS Online Trading?
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You will need an operative savings or current account with HDFC Bank for trading
through ISS Online Trading. You should fill in the proper bank and Demat account
details in the Client Registration form. These Bank and Demat accounts will be linked
/ mapped to your ISS Online Trading account. Please note that you must obtain Internet
Banking Facility from your Bank to enable you to transfer funds Online for doing
Online Trading. Please note that you should be the first account holder for these
bank accounts.Once the funds are transferred online the client will immediately
get the limit .There will be no need to approach the accounts dept for the same
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How frequently will I be able to know the status of my Orders and trades?
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You will be able to access all details regarding your trades on the website. www.nowonline.co.in
Accounts and Digital Contracts-cum-bills will be sent to your email ID by end of
the day on jadoo mail.com
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I want to buy some shares. But I do not have any money in my Bank Account. What do
I do?
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Please deposit a cheque/cash in your Ledger balance by filling the pay-in slip.
In case of a cheque, the money should come into your Ledger balance as soon as the
cheque is cleared. Once you have funds in your Linked Bank account, you need to
transfer the required amount for trading. Alternatively, you can sell some shares
from your Demat Account in the Cash Segment i.e. on delivery basis and use the money
to purchase the shares you want to buy on T+1 . The amount of money required before
placing a buy order would depend on the value of the order.
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On which exchanges will I be able to buy and sell shares?
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ISS offers its customers to execute their trades on NSE cash and NSE FNO . Whenever
other Exchange memberships are activated, the same will also be offered to clients
for trading. After completing the required documentation
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What kinds of orders can I place?
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You can place both market and limit orders. Limit Order is an order to buy
or sell securities in which you specify the maximum price per unit in case of a
Buy order and the minimum price per unit in case of a Sell order. The actual transaction
can be at the specified price or a price more favorable than the price specified.
Market Orders have different interpretations for NSE.
Market Orders in NSE: In case of market orders placed on NSE, all buy market
orders go to the Exchange with the price of the best offer and all sell market orders
go to the exchange with the price of the best bid. In case at that point of time
it is found that that particular bid or offer is no longer present in the exchange
this market order gets cancelled by the exchange. In case of part execution of market
order, the remainder order gets converted into a limit order at the last executed
price. Market orders can be placed only during market hours (i.e. when the Exchange
is open for trading – normally between 9.55 am to 3.30 pm).
A price protection mechanism is built-in for protecting you against execution of
market orders at high prices. The market protection allows only those market orders
to be executed which are within 2% of Last Traded Price (LTP). For example, if the
last traded price is Rs.75/- then Buy Market order will get executed only up to
an offer price of Rs.76.50 and Sell Market Order will get executed at Rs.73.50.
If the same is beyond +/- 2% of LTP, the Order will be rejected by the ISS Online
Trading system. In such a case, you may place a limit order at the price desired
by you beyond 2%. However, even such Limit orders will be subject to upper / lower
circuit filters prescribed by the Exchange.
Orders for Physical scrips, suspended scrips, unlisted scrips are not allowed.
Contact ISS helpdesk for any problem in placing orders for particular scrips as
some scrips are not permitted for execution unless cleared by our Risk Management
department.
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What is a Disclose Quantity (DQ) order?
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Normally, the order quantity is disclosed in full to the market. An order with a
Disclosed Quantity (DQ) condition/attribute allows the Trading Member to disclose
only a part of the order quantity to the market. For example, an order of 1000 with
a disclosed quantity condition of 200 will mean that 200 is displayed to the market
at a time. After this is traded, another 200 is automatically released and so on
till the full order is executed. DQ (Disclosed Quantity) should not be less that
10% of the Order Quantity and at the same time should not be greater than or equal
to the Order Quantity.
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Which shares will I be able to buy and sell?
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You will be able to buy and sell all shares in the Cash Segment that are traded
in the compulsory dematerialised form on the exchanges. For the leveraged products,
ISS will change the list of approved securities from time to time. As of now, ISS
allows the square up facility only in “A and B group” shares but not in ‘Trade to
Trade’ scripsor ‘Z’ group or physical shares.
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Do I get online confirmation of orders and trades?
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Yes. You get online confirmation of orders and trades. The status of order / trade
is updated on real-time basis in the Order / Trade Book.
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Yes. You can modify an order any time before execution. You can do this by accessing
the Pending Order Book page and clicking on the hyperlink for 'Modify' against
the order which you wish to modify. However, you cannot modify your order while
it is queued with the exchange, i.e., confirmation is awaited from the exchange
for the acceptance of the placement of any order or any modification/cancellation
request. In case the order is already partly executed, only the unexecuted portion
of the order can be modified.
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Can I cancel my order in the system?
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Yes. You can cancel an order any time before execution. You can do this by accessing
the Pending Order Book page and clicking on the hyperlink for 'Cancel' against
the order which you wish to cancel. In case the order is already partly executed,
only the unexecuted portion of the order can be cancelled.
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Can I enter orders After the trading hours (AMO order ) .What happens to such orders?
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Yes. You can enter limit orders after trading hours. Orders placed after trading
hours are queued in the system and are sent to the Exchange whenever the Exchange
next opens for trading. In the Order Book, the status of such orders is shown as
'Requested'. ISS reserves the Right to cancel such After Market Hours orders to
protect the interest of clients and to meet risk management requirements or to protect
market integrity. The client can start putting AMO orders from 6.00 pm to 8.00 am
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Do I need to have money before buying of shares?
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Yes. You need to have money in your Ledger before placing a Buy order. Alternatively,
if you have sold some shares, the sale proceeds can be used to buy the shares you
want.on T+1 day
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No. You can sell only those shares which are available as DP Free stock in your
Demat account. Under CNC option Menu Button “DP Free Stock” when accessed can provide
list of scrips with free quantity available in your Demat account with ISS.
You can go short in MIS product
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How will I be informed of my trade execution?
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The trade executions are confirmed online and the trading history is updated immediately.
In the Order Book, the status of each order is updated on a real-time basis. On
execution, the status changes to 'Executed' or 'Part Executed'. You can view details
of the trade executed by clicking on the link. In the Trade Book, you will be able
to see all the trades that have taken place. On clicking the link of Order Ref.
No. you will be able to see details of the trade execution. In addition, you will
receive e-mail confirmations. The contract note will be sent to you by way of a
digitally signed email at the end of the day.
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If I have purchased a share, do I have to take delivery?
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Rolling Segment: You can choose to sell the share before the end of the trading
session. However, once the trading session is over, you have to take delivery. T2T
Segment: Settlement of securities will be done without any netting off of positions.
If you have purchased and sold the shares in this segment you will have to give
the delivery for sale and receive the delivery for purchases. You will not be permitted
to settle the obligation on a net basis.
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If I have sold some shares, can I use the cash projections therefrom to buy other
shares?
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Yes, If you have sold the shares under ISS Online Trading product by allocating
the delivery from your Demat account you will be able to use the cash projections
therefrom to buy other shares. On T+1 day (not on the same day)
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If I have sold, do I have to give delivery of shares?
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Rolling Segment: ISS Online Trading system allows you to sell shares only against
your Free stock in your Demat account.
TT Segment: Settlement of securities will be done without any netting off of positions.
If you have sold shares so notified, you will have to mandatorily give delivery.
Any purchases have to be separately paid for and delivery taken. Therefore, even
after any subsequent purchase in the same settlement, the blocks on your DP balances
will remain till settlement.
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I have bought some shares but shares have not come into my demat account?
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The shares will come into your demat account at the time of settlement. Hence, you
can expect the shares to come into your Demat account on 1 day after Pay-Out of
securities (i.e. T+3). In case you do not receive the shares, it may be due to the
stock being in 'No Delivery' period or the full delivery of shares is not received
from NSEin market payout (Market shortage). In case of ‘No Delivery Period’, the
shares will come from the exchange after the 'No Delivery' period is over which
could be 1-2 weeks away. In case of Market shortage, it is possible that the shares
may not have come from the exchange because of short delivery by the counter party.
In this case, the exchange conducts an auction to buy the shares (to the extent
delivered short by any broker) from the open market and the shares may be received
2 days later. If the shares are not received in an auction also, the exchange charges
penalty on the person liable to deliver the shares. You will suitably compensated
and the consideration will be remitted to you as soon as it is received from the
exchange. Exchange may Close out your trade at a notified price if short quantity
could not be procured in normal market auction.
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I have bought some shares but they still have not come to demat account. Can I sell
them?
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You can sell the share using the Buy Today Sell Tomorrow (BTST) facility available.
ISS states that there is a risk involved in such a situation if in Market payout
of securities, Exchange is not giving full or part of Securities due to shortages.
Client will not have required quantity of shares in hand for settling his delivery
against the sell transaction due to exchange Payout shortage against his Buy position
and there is a risk of his sell position getting auctioned with additional costs
of penalties / higher price. Any such loss will be debited to the Client’s account.
For further details you may refer to the FAQ on BTST.
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What is a short delivery?
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Short delivery refers to a situation where a client, who has sold certain shares
during a settlement cycle, fails to deliver the shares to the member either fully
or partly.
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An auction is a mechanism utilised by the exchange to fulfill its obligation towards
the buying trading members. Thus, in case of a settlement, where the selling trading
members have delivered short, the exchange purchases the requisite quantity from
the market and gives them to the original buying member.
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What are the requirements of Stop loss orders ?
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The client can select the stop loss option while entering stop loss orders
It is the responsibility of the client for all the orders entered into the system
.Also the client will have to cancel the normal pending orders or stop loss orders
in case either of them is triggered
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In the futures and option segment the client will have to fulfill all the margin
requirements levied by the exchange from time to time (e,g SPAN margin , Exposure
margin ,Additional Volatility margin etc if any levied by the exchange .)
The client will have to give the initial margin before the client trades
Also any shortfall in the initial and exposure margin ISS can square off the positions
on T day itself at its discretion after informing the subbroker or client
In case the shortfall of the client is less than initial margin and ISS feel that
it is at risk the ISS can square off the position without informing the client (Generally
a courtesy call will be made )
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What happens if the shares are not bought in the auction?
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If the shares could not be bought in the auction i.e. if the shares were not offered
for sale in the auction, the Exchange squares up the transaction as per SEBI guidelines.
The guideline in force stipulates that the transaction is squared up at the highest
price on the respective Stock Exchange from the relevant trading period till the
auction day or at 20% above the last available closing price on the respective Stock
Exchange on the auction day, whichever is higher. The pay-in and pay-out of funds
for auction square up is held along with the pay-out for the relevant auction.
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How do I buy and sell shares on delivery basis through my ISS Online Trading Account?
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As you know, a ISS Online Trading account consists of Trading Account with ISS and
a demat account with ISE and a bank account with HDFC Bank. You can log on
to the on line broking portal www.nowonline.co.in and transfer the required amount of
funds from your Linked Bank account, in favour of ISS.
Once the transfer is completed you can buy shares based on the amount Transferred.
You can log on to the on line broking portal and allocate the required quantity
of securities from your Demat account, in favour of ISS. Once the allocation is
completed, you can sell shares based on the securities allocated.
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Can I buy securities against the proceeds of sales that I have done under a delivery
transaction?
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Yes. You can buy securities against the sale proceeds that you ought to receive
from ISS for a transaction on delivery basis. on T+1 day
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Till what time can I trade under delivery basis?
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You can trade during the market hours i.e. 9.55 am to 3.30 pm.
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Can I place orders for future execution beyond the market timings?
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Yes as per time schedule intimated for entering After Market Hour orders for next
day’s execution.
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When will the funds be withdrawn from my bank account for the purchases that I have
made?
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Funds are withdrawn from your bank account instantaneously before a Buy order is
entered and is reflected in the Exposure amount immediately on completion of Fund
Transfer.
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How will I receive the purchased shares in my demat account?
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The Exchange normally gives a securities pay-out on T+2 day and you can normally
expect the securities to be credited in your demat account on T+3 day.
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When will the shares be withdrawn against my sale transactions?
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The shares will be withdrawn from your demat account on the trade day after the
final securities pay-in obligation is generated.
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What happens if the exchange does not give the shares pay out due to shortages?
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The exchange carries out an auction session on T+4 day for the shortages. In case
you have not received the shares on T+3 day you will receive it on T+5 day i.e.
on day after the auction settlement takes place.
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What happens if the exchange does not receive the shares in auction?
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The exchange gives a close out for the securities and the buyer is adequately compensated
under this mechanism.
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What is meant by 'squaring off a position'? What is a cover order?
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Squaring off a position means closing out a margin position. For example, if you
have a buy position of 100 Reliance Shares', squaring off this position would mean
selling 100 Reliance shares in the same settlement. The order placed for squaring
off an open position is called a cover order. In the example, the order placed to
sell 100 Reliance shares is a cover order against the open position - 'Bought 100
Reliance Shares'.
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BTST is a facility wherein the customer will be able to sell the shares that he
has purchased even before he receives the delivery of the shares from the Exchange.
He will not have to wait till the time he receives the delivery from the Exchange
thus increasing his liquidity.
Sale in BTST is permitted only till on T+1 (and not on T+2 i.e. pay-in/pay-out date
of the Exchange). In other words, BTST shall be permitted only up to the day prior
to the scheduled payout of shares from the Exchange.
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How does the customer place an order in BTST?
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The customer can place an order in BTST by going to the Security Projections page
and clicking on the BTST Sell Hyperlink. The rest of the details which are required
to be filled up are similar to that of a normal sell order.
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Can BTST facility be used even when the current settlement is going on?
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BTST facility can be used only in case the settlement in which the shares have been
purchased is over.
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Which securities are available for BTST?
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ISS can at its sole discretion add scrips or delete scrips to this existing list
of scrips for which BTST would be permitted.
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What will happen in case the delivery for shares sold by the customer is not received
from the exchange?
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BTST is a facility whereby the customers are being allowed to sell their shares
against their receivable position in the same shares from the same Exchange. However,
in case there is a short delivery from the Exchange for the earlier buy transaction,
then the BTST customers will also be giving short delivery for their sell transaction.
The Exchange would either give delivery of shares bought earlier through market
auction or shall closeout the buy transactions as per the Exchange Regulations.
However, this would not help the customer in meeting his sale delivery obligations
already committed by him as even if he receives the shares bought earlier through
auction settlement, by that time the securities pay-in date for his sell transaction
would be over. In such case, the customer will have to face auction proceedings
against his sale transaction and will have to bear the auction losses, auction penalties
and any other incidental charges etc. ISS will not be responsible in any manner
whatsoever for any auction arising out of BTST trade. Exchange does not net off
subsequent sell transaction against the previous buy transaction across the settlements
and all the settlement obligations are settled settlement wise.
All cost and consequences of any auction arising out of such BTST sell transactions
shall be fully borne by the Customer and ISS would not be held responsible for any
such short delivery received by the customer and the consequential impact thereof.
In case of short delivery, ISS will reduce the limits of the customer to the
extent of the likely auction amount. On receiving the actual auction amount from
the Exchange the limits will be adjusted to reflect the same and the auction amount
will be recovered from the customer.
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Where can I view the shares purchased yesterday ?
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The shares purchased yesterday can be viewed in the T1 holding option
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Dispute regarding any unconditional certain losses occurred either during the trading
hours or after market hours . In any type of loss whether by trading (lower or upper
circuit of script, connectivity of trading system etc.) has to be fully borne by
the client and M/S ISS Enterprise Limited [Erstwhile: ISE Securities & Services Limited] do not have any responsibility for that
loss
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What are reports available on ISS Online Trading facility?
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Online Clients get the following reports on their desktop after active login to
Trading Facility:
Pending Orders: Orders which are not executed are included in this list.
Trade Log: All individual Trades executed are included in this report.
Net Position: Scrip-wise Buy, Sell and Net positions are available in this
report. Client can execute a square off trade from this report by selecting the
scrip.
Exposure: This report provides information about Exposure available to client based
on Funds Transferred Online, Credit balance as of Beginning of the day and value
of sales of Trading day and extent of exposure utilized.
Activity Log: This report contains details of messages for Orders entered,
modified, cancelled, status of Orders after entry, Rejection of orders, etc. It
is to be noted that if there is any connectivity issue, when after an order entry,
there is no change in Pending Orders Report or Trade report, Client must view Activity
Log. If remarks show that Order is having a status of “In Process”, they must communicate
with ISS office to ascertain the status of the Order before reentry, as it is possible
that order might have been executed but due to loss of connectivity, client may
have not received the message for Pending status or Execution status.
Fund Withdrawal: This Menu allows client to put in a request for Fund
Withdrawal. It does not effect Fund transfer unless processed by ISS.
Preferences: This Option allows Clients to reset / change their passwords,
provide email ID for trade and Order reports at frequency chosen by them.
Obligation: This report provides details of positions of Trades executed
in past 2 Trading days. Client who are allowed BTST can sell these shares by clicking
“sell” link provided in this report. BTST may not be allowed for all scrips, which
please note.
Beneficiary: This report contains details of securities bought by clients
but delivery whereof is held by ISS in its Demat account. This primarily relates
to trades executed T-3 days.
Fund Transfer: When a Client wants to Buy shares, they need to provide Funds.
This option allows them to login to their Ledger balance and transfer funds Online.
Exposure will get effected immediately. At times there are connectivity related
issues when funds are actually transferred but Client does not get an Exposure.
In such a situation please contact ISS office and inform the details. Please also
wait after execution of fund transfer instructions to get a Fund Transfer Success
message.
DP Free Stock: This report contains Client’s holding with ISS Demat account.
There is an option provided to enable one to sell directly by clicking the option.
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What would be the brokerage applicable?
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The brokerage rates will be the same as that are applicable for Delivery trades.
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Whether the shares will get credited in my demat account?
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In case the customer sells shares under BTST facility, the securities bought by
the customer in one settlement will be retained either partly or fully by ISS in
its demat account for the purpose of meeting the pay in obligation of the customer
towards the securities sold by the customer in the subsequent settlement(s).
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