Market Price Protection (MPP) is a risk control mechanism used by FYERS to protect you from large price slippages when placing market orders. It ensures your orders aren’t executed at unexpectedly high or low prices, particularly during volatile conditions or in illiquid contracts.
When you place a market order, MPP automatically converts it into a limit order by applying a system-defined protection range. This cap helps limit how far the execution price can deviate from the Last Traded Price (LTP).
The MPP range is calculated based on:
Depending on the instrument and its LTP, the MPP range could be a fixed amount or a percentage of the LTP.
If the system-calculated limit price:
| Exchange | Segment | Instrument | LTP Condition | MPP Type | MPP Value |
|---|---|---|---|---|---|
| NSE/BSE | FO | FUTIDX | ≤ ₹10,000 | Amount | ₹50 |
| > ₹10,000 | Percent | 0.5% | |||
| NSE/BSE | FO | FUTSTK | ≤ ₹50 | Amount | ₹0.75 |
| > ₹50 | Percent | 1.5% | |||
| NSE/BSE | FO | OPTIDX/OPTSTK | ≤ ₹10 | Amount | ₹1.5 |
| > ₹10 and ≤ ₹20 | Percent | 15% | |||
| > ₹20 | Percent | 10% | |||
| NSE | COM | FUTCOM | ≤ ₹50 | Amount | ₹0.75 |
| > ₹50 | Percent | 1.5% | |||
| NSE | COM | OPTCOM | ≤ ₹10 | Amount | ₹1.5 |
| > ₹10 and ≤ ₹20 | Percent | 15% | |||
| > ₹20 | Percent | 10% | |||
| MCX | COM | FUTCOM | ≤ ₹50 | Amount | ₹0.75 |
| > ₹50 | Percent | 1.5% | |||
| MCX | COM | OPTCOM/OPTIDX/OPTSTK | ≤ ₹10 | Amount | ₹1.5 |
| > ₹10 and ≤ ₹20 | Percent | 15% | |||
| > ₹20 | Percent | 10% |
If you place a market order to buy 1 lot of an Index Futures contract trading at ₹12,000, the system applies an MPP of 0.5%:
| Scenario | Outcome |
|---|---|
| You place a market order for a stock future | MPP is applied based on the contract's LTP and the above rules. |
| You use a limit order | MPP does not apply. Your specified limit price controls execution. |
| The market price gaps beyond the MPP range | Your order may remain pending or unexecuted until the price returns within the protected range. |
Last updated: 29 Jul 2025