Hello,
I recently read about a circular from NSE (dated JUNE 27, 2023) wherein they levied a penalty on algorithmic market orders. If true, this would hamper a lot retail traders who use APIs for placing orders.
A quick query on this regard - does this circular affect Fyers API users in any way? Meaning, will there be a direct penalty on users for placing market orders through Fyers API? Creating new positions will still be manageable with limit orders if there's a penalty but squaring off existing positions will be affected heavily. Because I'm not wrong, squaring-off existing positions (HTTP DELETE request on the "positions" API endpoint) triggers a market order. Will a penalty be applicable for such orders too?
A clarity on this will be greatly appreciated. Thanks in advance.