What are GTT order terms and conditions?

A limit order will be posted on the exchange in accordance with the limit price and predetermined criteria you specify if your trigger price is reached at a future date using the GTT function.

Only CNC type orders in the Equity Cash segment on the NSE and BSE, as well as NRML type orders in the Equity Derivatives segment on the NSE, are eligible for usage with GTT.

A GTT is a trigger that sets a limit order (at the limit price you choose) once the trigger price you chose is reached or crossed. All such orders will be cancelled at the conclusion of that trading day session if the trigger price is violated on a given day but the chosen limit price is not precisely fulfilled on that same day.

The GTT trigger may only be used once; therefore, if an order is placed but not performed for whatever reason, a new GTT order must be placed.

An order would be placed at the chosen limit price if the Last Traded Price (LTP) of a security spike higher than the trigger price chosen or if the LTP opens at a gap up or gap down exceeding the trigger price.

Terms & Conditions for Good Till Trigger (GTT):

The GTT Feature's services are subject to these Terms of Use. You acknowledge that you have read and comprehend the clauses, conditions, the specifics of how the GTT Feature functions, as well as Tiqs policies, practices, and risk disclosure papers before consenting to utilise this GTT Feature.

1. The definition of "Good Till Trigger Feature" or "GTT Feature" is found in Clause 2.
2. "Last Traded Price" or "LTP" refers to the price at which a stock or other security was last traded on the Exchange.
3. Click here to read about NSE’s limit order conditions.
4. The "RMS" or "Risk Management System" is the system in place at Tiqs that keeps track of all the positions of Tiqs clients in real time and makes sure that clients maintain margins with regard to all positions/positional trades and that Tiqs maintains margins at a broker/trading member level with the clearing houses. The RMS also continuously examines each pre-trade order submitted by a client to the exchanges to determine whether it complies with Tiqs risk management policies and procedures and whether the client submitted the order in accordance with the guidelines established by Tiqs and the exchanges as well as with sufficient cash balances and holdings. By enforcing margin limitations and squaring off positions with regard to each customer in accordance with Tiqs risk management practices, the RMS consistently upholds Tiqs terms, rules, and procedures. The risk management policies, agreements, and processes of Tiqs must always be known to you as a customer.
5. Trigger Condition refers to the specifications and conditions you submitted, and if they are satisfied, the matching limit order you entered will be executed on the exchange. You must choose one of the following requirements, without limitation:
   1. A Limit Price is the price you choose, which, if the Trigger Price is achieved or violated, sets a limit order at the price you choose.
   2. Order type: When utilising the GTT Feature, you can only use limit orders as an order type.
6. When utilising the GTT function, the term "Trigger Price" refers to the price you input to initiate a limit order and post it on the exchange. This cost that you choose might either be:
   1. The price at which a purchase order is triggered for stock or other securities that are not currently among your holdings.
   2. The price at which a selling or target order is put for stock or other securities that are already part of your present holdings and that is higher than the going market price.
   3. The price that, for stock or other securities already present in your current holdings, will cause a selling or stop-loss order to be placed if it is placed at a lower price than the going market price.
7. All prices that you specify for your trigger price will be compared to the stock or scrip most recent traded price (LTP).
   1. For stocks or scrip with a market price larger than Rs. 50, the price you choose as a trigger price must be 0.25% away from the stock's current market price.
   2. For stocks or scrip with a market price less than Rs. 50, the price you choose as a trigger price must be 9 paisa apart from the stock's current market price.

Features of GTT:

1. The "Good Till Trigger Feature," also known as the "GTT Feature" or the "GTT," is a feature that enables You to provide a set of Trigger Conditions. As and when these Trigger Conditions are satisfied, a limit order in accordance with the Trigger Conditions defined by You would be posted on the Exchanges.
2. No real order is placed by utilising the GTT Feature until and unless the Trigger Conditions that You specify are satisfied. As soon as the trigger conditions are satisfied, Tiqs puts a limit order to the exchange and records the trigger conditions that you've specified.
3. For CNC type orders on the NSE and BSE, the GTT function is only permitted on the Equity Cash Segment.
4. You must always have a sufficient cash level and a sufficient number of holdings of the relevant scrip in your trading account in order for all of your GTTs to correctly trigger in accordance with the trigger conditions you specify. Your GTTs may be cancelled at the sole discretion of Tiqs & the Tiqs RMS if there is an inadequate cash balance or holdings amount with regard to your GTTs at any moment in your trading and demat account.
5. Before orders are placed at the Exchanges, the RMS at Tiqs performs a number of checks on a pre-trade basis as and when clients request orders be made. The norms of the Exchanges, SEBI, and Tiqs internal risk management policies and procedures are all followed when conducting these checks.
6. Clients utilising the GTT tool are not permitted to use Tiqs Call & Trade tool.
7. You and each customer are only permitted to have a total of 100 pending GTTs at any given moment.
8. GTT Features come in two categories:

   1. A single trigger price that you input might be used to start either a target order (if the LTP you choose is higher than the current market price) or a stop loss order (if the LTP you choose is lower than the current market price).

   2. One cancels another, or "OCO": This feature type is relevant to the stocks that you now own. You can input two trigger values, one of which would be above the current market price and act as a target price, and the other of which would be below the current market price and act as a stop loss price.

      Both types of triggers: Single and OCO, would be activated in accordance with the trigger price and trigger conditions. According to the GTT Feature, orders cannot be made, rejected, cancelled, or executed during the following market times/conditions, even if trigger criteria are met:

      • An order will be placed at the limit price you've chosen and will be cancelled at the conclusion of that trading session if the trigger price is broken during any day, if the limit price is not met throughout the day.

      • All GTTs are terminated after 365 days following the submission of such request in the event that they are not triggered in accordance with the Trigger Conditions, in the event that the minimum difference between the Trigger Price selected and the LTP at that time is not as per Clause 5.

      • The GTT may be cancelled at Tiqs sole discretion 1 day before the Ex-date of any corporate action that has a significant impact on the stock price, such as a change in exchange series or any corporate action, such as splits, bonuses, extraordinary dividends (above 5% of market price), mergers, reverse mergers, amalgamations, takeovers, delisting’s, rights issues, etc. Such an order request using the GTT Feature may be cancelled at Tiqs and Tiqs RMS's sole discretion.

      • When the trigger price is exceeded and the limit price chosen is beyond the scrip's circuit boundaries, order requests can be made using the GTT feature. Scrips that are on the NSE's Call Auction list cannot be utilised with the GTT feature. The list is maintained by NSE, and you can read the most recent list of such scrips here.

9. After a limit order is made, a single GTT is a trigger that is only valid once. When a limit order is established for whatever reason, even when the trigger price is violated, but the limit order is not exactly met on the same day, such GTTs must be placed.
10. If an order is made outside of the "execution range" of a derivative contract after a GTT has been triggered, the exchange may cancel it. You are responsible for covering any costs you may incur as a result of cancelling an order that was placed outside the execution window.
11. The order could be refused if a GTT is triggered for an option contract that Tiqs doesn't permit trading in.
12. It is your responsibility to look for an active GTT before making any additional orders for the same security via call and trade, the positions page, or the order window.
13. GTTs for derivative contracts are only effective throughout the contract's lifespan. One day following the contract's expiration, all pending GTTs will become void.

Charges for GTT Feature:

1. The use of GTTs will not incur any additional fees. Once the GTT has been activated, standard brokerage will be applied to the order.
2. Tiqs has the right to modify these prices at any time with or without notification to clients.

Risks, lack of implementation, and relevant law:

1. This GTT order does not guarantee order execution and includes/involves all hazards associated with internet-based trading. These risks also apply to trading using GTT orders in the capital markets segments.
2. Please make sure you read and comprehend the Equity Annexure & Risk Disclosure Document's terms, conditions, and points once again as you have agreed to them when you opened your trading account with Tiqs.
3. Tiqs is a member of the NSE and BSE and is registered with SEBI. Therefore, when placing orders through Tiqs, you shall fully abide by all laws and regulations established by SEBI and the Exchanges. The Republic of India's laws and regulations in their entirety would apply.
4. Only the live last traded price it is tracking on the exchange will be used to activate GTT triggers. There is no assured execution when utilising GTT with limit price since the LTP might have changed by the time the order is placed post trigger.