BFO Intraday Facility from 12 October 2026: What You Need to Know

You spot a move in the Sensex in the morning and take a trade. Then a meeting runs long, and suddenly it’s almost closing time. This is exactly the situation intraday rules are built for: positions that start and end on the same day.

The BFO Intraday (MIS) facility lets you take same-day positions in liquid BSE Index F&O contracts. On Shoonya, this facility will go live on 12 October 2026, and our risk management system (RMS) automatically squares off every open position at 3:20 PM.

In this blog, you’ll learn what BFO and MIS mean, which contracts are eligible, how the 3:20 PM auto square-off works, and what to check before you trade.

What Is BFO Intraday (MIS)?

BFO Intraday (MIS) is a same-day trading facility for futures and options on BSE. BFO stands for BSE Index Futures and Options, the segment where BSE’s index and stock derivatives trade, such as Sensex and Bankex contracts. MIS stands for Margin Intraday Square-off, which means you open and close your position on the same trading day.

Because every open position is closed automatically at 3:20 PM, nothing is carried overnight.

Which Contracts Are Eligible for BFO Intraday (MIS)?

BFO Intraday (MIS) is available only for liquid contracts, meaning contracts where Open Interest and traded lots are both more than 50 lots, as per the applicable policy terms and conditions.

• Open Interest: The total number of contracts that are still open in the market
• Traded lots: The number of lots bought and sold in that contract

Liquid contracts have enough buyers and sellers, so it’s easier to enter and exit a position on the same day. A contract that doesn’t meet this limit won’t be available under MIS, so check eligibility before you place an order.

How Does RMS Auto Square-Off Work at 3:20 PM?

At 3:20 PM (15:20), our risk management system (RMS) automatically closes every open BFO Intraday (MIS) position in your account, whether it is in profit or loss. BSE’s market closes at 3:30 PM, leaving a short window before the day ends.

Here is what this means for you:

• No overnight positions: You can’t carry an MIS position to the next day
• Your exit, your price: If you close the position yourself before 3:20 PM, you choose when and at what price to exit
• Market price at 3:20 PM: If the system closes it for you, the price depends on the market at that moment
• Profit or loss: Auto square-off doesn’t wait for a better price, so the result can be a gain or a loss

What Should You Keep in Mind Before Using BFO Intraday (MIS)?

A few simple habits will help you use the facility without surprises.

• Check eligibility first: Make sure the contract meets the liquidity requirement before you place an order
• Plan your exit: Decide your target and stop-loss before you enter, and aim to exit well before 3:20 PM
• Watch the clock: Don’t leave closing for the last few minutes, when prices can move fast
• Read the terms: The facility works as per the applicable policy terms and conditions, so read them before you trade
• Respect the risk: Derivatives are leveraged products, and intraday positions can move quickly in either direction

Conclusion

BFO Intraday Facility: FAQs