• Impact cost is computed for an order size of Rs.5 lakh per security.

• For the purpose of computation of impact cost, four snapshots at different times are taken everyday from the order book in the capital market segment for all securities.

• Impact cost is the percentage price movement caused by an order size of Rs.5 Lakh from the average of the best bid and offer price in each order book snapshot.

• The closing price of the last day of the six month period is reckoned to determine the order size for the purpose of impact cost computation.

• Impact cost is calculated separately for the buy side and the sell side, in each order book snapshot, for the past 6 months.

• Where sufficient numbers of shares are not available on either the buy side or the sell side in a snapshot, the impact cost for such observations is given a penal value of 5%.

• The buy side impact cost (or sell side impact cost) is the simple average of the buy side impact cost (or sell side impact cost) computed for all the snapshot observations in the past 6 months.

Impact cost reckoned for the purpose of all computations is the mean of such buy side impact cost and sell side impact cost.