A market order is executed at the best price currently available in the order book(Market Depth), not at the LTP you see on the screen. Since market orders prioritise execution speed over price, they may get filled at prices that can differ from the Last Traded Price (LTP)—especially when the market is moving fast.

Example:
 In the below example, the LTP is ₹1,12,571, and if you place a Buy market order, it may execute at ₹1,12,632, because that is the best available price sellers are offering in the market at that moment.


In high-value trades or low liquidity situations, market orders can consume multiple price levels in the order book, resulting in a much higher execution price (for Buy) or lower execution price (for Sell) than the displayed LTP. This difference is known as slippage, and it increases with volatility, large order size, or thin market depth.


Market Price Protection (MPP)

To reduce this risk, Market Price Protection (MPP) adds a smart price safety limit to your market order. When enabled, Rupeezy calculates a dynamic protection price range based on the live LTP and instrument type. Your order is executed instantly, but only at the best available price within this protected limit.

If the full quantity cannot be filled within the protection range, the remaining unfilled quantity will stay pending as a limit order at the protection price, instead of executing at an unfavorable price outside your risk limit.

How MPP Helps You

  • Prevents unexpected losses from high slippage
  • Ensures execution within a safe price boundary
  • Still fills at the best possible price first
  • Converts unfilled quantity into a limit order instead of a risky market fill

When should you enable MPP?

  • Market is moving fast
  • Liquidity is low
  • You are placing large orders
  • You want instant execution without price risk beyond a limit


How It Works

  1. On the order screen, select Market Order and enable MPP from the toggle, it can be enabled or disabled any time.

  1. Rupeezy calculates a dynamic protection price based on the table below table
  2. Your order is sent to the exchange as a Limit Order at the protection price (LTP ± %).
  3. The exchange fills your order at the best available price first, as long as it is within the protected limit.
    • Example: If the protection price is ₹91 for a Buy order, and market depth shows an Ask at ₹90 for 5 qty, the order executes at ₹90 (better than limit).
  4. If the price moves beyond the protected range before full execution, the remaining quantity stays pending as a Limit Order instead of executing at a worse price.


Important Notes

  • MPP does not guarantee 100% fill
  • It guarantees no fill beyond the protected price range
  • Pending qty remains active as a Limit Order, not a Market Order
  • Protection range updates dynamically based on instrument type and LTP