What is CNC, NRLM and MIS product type?

• There are three different types of product types which can be used at the time of placing orders: 

1. CNC (Cash and Carry): -CNC orders are those order where there are no provisions for leverage and at the time of buying the complete market price has to be paid. CNC is used for delivery-based trading in equity. Delivery based trading means type of trading where the buyer has the freedom to hold the stocks for any desired duration and there is no auto square off.
   REALTED FACTS: -
   - CNC order is known as delivery order in Odin or Option traders
   - Even if someone buy and sell a share within the same day using CNC, it will be termed as the intraday trade and the  brokerage is also applicable as per intraday tariff.
   
   
2. NRLM (Normal) Product type: -Normal is used for overnight trading of futures and options. While using normal as a product type the trader can carry their positions in the derivative market until the expiry.No intraday leverages will be available while using the normal product type.Normal product type is also used for delivery-based trading of currency. In Odin or option trader normal product type is also known as margin order.
   
   
3. MIS (Margin Intraday Square Off): -MIS product type is used in intraday trading to get the benefit of the intraday leverage.Here the amount which will be paid by the trader is equal to market price – VaR%.The open positions under the MIS product type will be automatically squared off if they are not closed before the scheduled auto square off time.