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What is Broker Square Off mode in ICICIDirect?

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Broker square off mode is a facility on intraday (margin buy) positions. Under Broker square off mode, all unexecuted orders are cancelled and open positions are auto-squared off by the broker at the end of the day.

When placing an Intra-day buy order with ICICI Direct, you could choose from one of the two square-off modes; broker and client mode.

Under client square off mode, the unexecuted intra-day orders or open intra-day positions are expected to close by the customer. ICICI Direct does not cancel such order or auto square-off such positions. These orders or positions stay in the system for up to 365 days.

Note that all intraday sell orders or positions are marked under the Broker square off mode only.

 

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