Rohit wanted to buy 200 shares of a tech company. He contacted a stock exchange broker to buy the said shares. The broker opened his DEMAT account and placed an order to buy shares. He then went online to connect to the main stock exchange and matched the shares and the best price available. When the shares can be bought at the mentioned price, it will be communicated to the brokers terminal and the order will be executed electronically. The next step involved in the trading and settlement procedure would be:
Rohit wanted to buy 200 shares of a tech company. He contacted a stock exchange broker to buy the said shares. The broker opened his DEMAT account and placed an order to buy shares. He then went online to connect to the main stock exchange and matched the shares and the best price available. When the shares can be bought at the mentioned price, it will be communicated to the brokers terminal and the order will be executed electronically. The next step involved in the trading and settlement procedure would be:
Solution
Order placed → unique order code is issued → order gets matched and executed → contract note is issued.
The question mentions that the order was placed and later executed, but skips the step where the unique order code is issued.
So, Option 3 fits as the immediate step after placing the order, while Option 2 fits as the next step after execution.
Due to this imprecise sequencing, both Options 2 and 3 were accepted.
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