GTT order’ is a feature which allows a Client to place an order when a price hits a threshold set by the Client. Also, client can set a stop loss and target for such orders. Once the condition as per set price threshold is met, the order as per the price threshold set by the Client will be placed on the Exchanges. The validity of the trigger is One Year. At all times while placing a GTT order, Clients are required to maintain sufficient cash balance & sufficient quantity of holdings/positions of the respective scrip in Client/s respective trading account as per the order details. In case there is insufficient cash balance or insufficient quantity of holdings/positions with respect to the GTT order at any point in time in Client/s trading and/or demat account, the GTT order may be cancelled/failed. A notification is sent to CLIENT LOGIN DRIVE.
The Good Till Triggered (GTT) feature is an order that stays active until the trigger condition is met. GTT orders will be triggered after being matched for the condition set with the last traded price received from the exchange during a live trading session.
1. GTT - Single : Only a single trigger can be set where the order is placed at the exchange when the Last Traded Price (LTP)matches or breaches the trigger price. The single trigger can be used to enter new or exit positions. If your trigger price is hit in a future date, a limit order will be placed on the exchange as per the limit price and preset conditions set by you.
2. GTT – OCO: (One Cancels Other): Both stop loss and target trigger can be set in an OCO trigger. When either of the trigger/s is hit, the order is placed at the exchange, and the other trigger is cancelled. Please enter the correct condition; otherwise, your order will be placed at the current market price.
For e-DIS Clients : If you place a GTT order to sell securities held in demat account, then clients should need to authorize the holdings using CDSL TPIN. In case holdings are not authorized, or its validity has expired, a GTT order for sale of securities held in your demat A/c will be rejected once triggered. This is not applicable if POA or DDPI is submitted already.
The validity of a GTT (Good Till Triggered) for the equity segment is one year from the placement date. After one year, the GTT will be automatically cancelled, but it can be re-created if necessary.
IN case the Trigger Price is breached during any day (which may be caused due to a gap up or gap down opening at market opening/no matches found for the GTT order while triggered), an order shall be placed at the limit price selected by the Client shall be cancelled at the end of such trading session; in case such limit price is not met during the day;
In case there is a change in exchange series or any corporate action, such as; splits, bonuses, dividends of extraordinary nature (above 5% of market price), merger, reverse mergers, amalgamations, takeover, delisting, rights issue, etc. where there is a significant impact/change in the scrip price, the GTT orders may be cancelled at the sole discretion of our RMS Team, 1 day prior to the Ex-date of such corporate action effect taking place on the stock price and the client/s will be intimated.
1. The onus of checking for a pending GTT order for a scrip before placing any new order(s) for the same scrip from the order window, positions page, or via call and trade lies on the Client.
2. GTT can be used only for CNC type orders in the Equity Cash segment on NSE & BSE and NRML type orders in the Equity Derivatives segment on NSE.
3. GTT orders for derivative contracts are only valid for the lifetime of the contract only.
4. SKY, at all times, bears no liability towards the Clients for any reason whatsoever with respect to using the ‘GTT order’ feature; including but not limited to, non-execution of any order using the GTT order’s feature/either leg of the order, any opportunity loss for non-execution of such orders/trades, any cancellation or non-placement of any orders and any such other claims which may arise from Clients with respect to using the GTT order.
5. When there is a corporate action, such as a bonus issue, dividend, merger, de-merger, rights issue or stock split, the GTTs for the corresponding stocks will be cancelled before the ex-date. This precaution ensures that the order is not triggered by the stock price movements due to the corporate action. After a corporate action, you will need to manually re-place the GTT order if you wish to maintain it.
6. If the Client converts position taken from a GTT order i.e Intraday to Delivery or Delivery to Intraday, the onus to cancel connected target or stop-loss leg lies on the Client.
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