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What is Basket Order?

Basket order is a spread/Hedge benefit order, where it allows you to place multiple orders at the same time in the trading system where you can create your own strategy and your own basket to place the orders. The maximum order that can be added to a single basket is limited to 20 orders and can create multiple baskets for placing the orders.

Under the Futures & Option, Spread/Hedge Strategy, you need not have the full margin (span + exposure + additional) to place the orders, and the margin required is only the hedge benefit margin as per the exchange.