What’s the difference between Intraday, Overnight, and MTF in FYERS?

What’s the difference between Intraday, Overnight, and MTF in FYERS?

What’s the Difference Between Intraday, Overnight, and MTF in FYERS?

When placing an order on FYERS, you must select a product type: Intraday, Delivery/Overnight, or MTF. The selected product type determines how long you can hold the position, whether margin funding or leverage applies, and how the position is managed at the end of the trading session.

Product Types and How They Work

Intraday

Intraday is intended for positions that are opened and closed within the same trading day. FYERS may provide leverage of up to 5x, depending on the stock or segment.

If you do not close an Intraday position manually, FYERS’ Risk Management System (RMS) will attempt to square it off after the applicable segment-specific cut-off time.

SegmentApplicable Stocks or ContractsIntraday Square-Off Time
CAS EquityCash-market stocks with F&O contracts3:05 PM
Non-CAS EquityCash-market stocks without F&O contracts3:20 PM
Index and Stock F&OIndex and Stock Futures and Options3:25 PM*
Non-Agri CommoditiesCrude Oil, Gold, Silver, and other supported non-agricultural commodities11:20 PM or 11:45 PM**

*For Index and Stock F&O positions, the square-off timing may be extended up to 3:30 PM depending on market volume and operational requirements.

**Commodity timings may vary due to US Daylight Saving Time adjustments.

For Equity Cash segments, the market closes with the Closing Auction Session (CAS), during which the closing price of eligible securities is discovered through a call auction process. For more information, refer to What is the Closing Auction Session (CAS)
  • Intraday positions are intended to be closed within the same trading day.
  • Leverage of up to 5x may be available, depending on the stock or segment.
  • Square-off timings vary by segment and security classification.
  • Execution is subject to available market liquidity.
  • Slippage and applicable square-off charges may apply.
Close or convert your Intraday position before the applicable square-off time. Automated square-off may be delayed, partially executed, or executed at a different price during volatile or illiquid market conditions.

Delivery / Overnight

Delivery is available for equities and ETFs. Shares purchased using this product type are delivered to your Demat account and can be held without a fixed time limit.

Overnight is available for Futures and Options positions and allows eligible positions to be carried beyond the same trading day.

  • Delivery is available for equities and ETFs.
  • Overnight is available for Futures and Options positions.
  • Intraday leverage is not provided.
  • Positions are not subject to the Intraday RMS square-off timings.
  • Positions remain open until you exit them or until the contract expires, where applicable.

MTF

Margin Trading Facility (MTF) allows you to purchase eligible equities and ETFs by paying a portion of the trade value, while FYERS funds the remaining amount.

MTF may provide leverage of up to 4x on eligible securities. Positions can be carried overnight or held for a longer period, subject to applicable margin requirements and FYERS’ risk policies. Interest is charged daily on the funded amount, and MTF must be activated before use.

  • Available only for eligible equities and ETFs.
  • Provides leverage of up to 4x on eligible securities.
  • Positions can be carried overnight or held longer.
  • Daily interest is charged on the funded amount.
  • MTF activation is required before placing an order.

Quick Comparison

ProductSquare-OffMargin ProvidedCarry ForwardLeverage
IntradayAutomated square-off after the applicable segment-specific cut-off timeYesNoUp to 5x, depending on the stock or segment
Delivery / OvernightNo Intraday RMS square-offNoYesNone
MTFNo Intraday RMS square-offYesYesUp to 4x on eligible securities; interest applies

Product Types in the Order Panel

  • FYERS App: The Delivery tab is displayed for equities and ETFs, the Overnight tab is displayed for F&O, and the MTF tab is available for eligible securities after activation.
  • FYERS Web and FYERS Trader: Overnight is displayed for both Equity and F&O. MTF is available for eligible securities after activation.

Converting an Open Position

You can convert an eligible open position from one product type to another without exiting the trade. For example, you may convert an Intraday position to Overnight/Delivery if you want to carry it forward, subject to product eligibility, sufficient margin, and the permitted conversion window.

Position conversion is available on FYERS App, FYERS Web, and FYERS Trader. For platform-specific instructions, refer to How to convert position in FYERS?

Key Points to Remember

  • CAS-eligible equity positions are subject to Intraday square-off from 3:05 PM. 
  • Non-CAS equity positions are subject to Intraday square-off from 3:20 PM.
  • Index and Stock F&O positions are generally subject to Intraday square-off from 3:25 PM.
  • Non-Agri Commodity square-off begins at 11:20 PM or 11:45 PM, depending on the applicable market schedule.
  • Currency trading is currently unavailable as per regulatory guidelines.
  • Agri commodities are not available for trading under FYERS’ risk policies.
  • Delivery is available only for equities and ETFs.
  • Overnight is available for Futures and Options positions.
  • MTF is available only for eligible equities and ETFs and attracts daily interest on the funded amount.
  • Square-off timings may be adjusted during special trading sessions or unusual market conditions.

What If?

ScenarioWhat Happens
I do not close my Intraday position manually.FYERS RMS will attempt to square off the position after the applicable cut-off time. Execution depends on market liquidity, and slippage and square-off charges may apply.
I hold an Intraday position in a CAS-eligible equity stock.FYERS will initiate automated square-off from 3:05 PM. Only CNC orders will be allowed in these stocks after this time.
I hold an Intraday position in a non-CAS equity stock.FYERS will initiate automated square-off from 3:20 PM.
I hold an Intraday Index or Stock F&O position.FYERS will generally initiate square-off from 3:25 PM. It may be extended up to 3:30 PM depending on market volume and operational requirements.
The market is highly volatile or illiquid.Automated square-off may be delayed, partially executed, or completed at a different price based on available market liquidity.
I want to carry an Intraday position beyond the trading day.Convert the eligible position to Delivery/Overnight before the permitted cut-off, subject to sufficient margin. For detailed steps, refer to How to convert position in FYERS?
The Convert option is not displayed.The position, product type, or symbol may not be eligible for conversion.
The position conversion fails.Check whether the symbol is eligible, the current market session permits conversion, and sufficient margin is available.