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What is the time priority of unexecuted limit orders transitioning from CTS to CAS?
As per SEBI circular point 4.8, all unexecuted limit orders of the CTS shall be carried forward to CAS, except Stop Loss orders, Iceberg orders and orders having prices beyond the price bands applicable in CAS. The limit orders carried over from the CTS to CAS shall have a higher time priority than limit orders placed during CAS. The limit orders carried over from the CTS to CAS can be modified, however, time priority on the price modification shall be changed.
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