GTT (Good Till Triggered) Order:
GTT order allows you to buy or sell (Cash and FnO) at a future price with 1-year order validity, unless triggered earlier. A GTT is a limit order with product type as Delivery and Margin in the Equity Cash segment on NSE & BSE and Carry-forward type orders in the Equity and Commodity Derivatives segments on NSE, MCX, NCDEX and currency segment.
The GTT feature allows you to place a limit order, at the limit price selected by you (the order price) and a trigger price (the trigger price). ONLY when the trigger price is met, your GTT order will be sent to the Exchange for execution at the order price. In case the order is triggered on any day and the order price is not exactly met, all such orders will be automatically cancelled and removed from the GTT queue at Angel Securities Limited at the end of trading session the same day. All GTT orders triggered and sent to the Exchange, if not executed for any other reasons the same day, will also be automatically cancelled. You will need to place the same GTT orders again.
When you place a GTT order, you are deemed to have read and understood the terms and conditions of its use as appended below or as may be amended from time to time and agreed to abide by the same strictly. All GTT orders shall conform to and be liable to the Bye-laws, Rules and Regulations of the Exchange and the guidelines of the regulatory authority and be subject to the Rights and Obligations, the risks set out in the Risk Disclosure Documents and all the other terms and conditions relating to securities transactions forming part of the KYC documents executed by you.
- You will be able to select only limit orders as GTT orders.
- GTT orders are allowed only in the Equity cash segment for Delivery and Margin type orders on NSE & BSE and Carry-forward type orders in the Equity Derivatives segment on NSE, MCX, NCDEX and currency segments.
- At any point in time, you can only have a maximum of 50 pending GTT Orders.
GTT Orders may not be allowed, may be rejected or cancelled, or not executed even if Trigger
Condition is met in the below mentioned market timings/conditions:
- If the trigger price is met or breached, but the order sent to the Exchange does not meet the Order price (limit price) during the day’s trading session, the GTT order is cancelled and removed from the GTT Order queue.
- All GTT orders that do not meet the trigger price in 365 days shall be cancelled. 365 days shall be counted as consecutive calendar days from the date of placing the orders.
- In case there is a change in exchange series or any corporate actions, such as; splits, bonuses, dividends, merger, reverse mergers, amalgamations, takeover, delisting, rights issue, etc. where there is a significant impact/change in the scrip price, the GTT will be cancelled at the sole discretion of Angel, one day prior to the Ex-date of such corporate action effect taking place on the stock price.
- If the trigger price is met, but the Order price (limit price) is outside the circuit limits of the particular scrip, the GTT orders will be cancelled.
- If requisite margin is not available upfront in your account, GTT orders will not be sent to the Exchange even if the trigger price is met.
- GTT orders placed for any scrip/contract not allowed for trading by Angel shall be rejected.
- In case you have not furnished a PoA or the PoA is invalid/inactive, or in case of T-PIN, its validity has expired, a GTT order for sale of securities held in your Demat A/c will be cancelled.
- You have the option of cancelling the GTT orders at any time before execution, without furnishing any reason.
- All GTT Orders triggered but not executed for any reason, or are cancelled otherwise, shall have to be placed again, if desired to be executed.
- GTT Orders for derivative contracts are valid only during their contract period. Pending GTT Orders for derivatives will be removed at the expiry of the respective contract period.
- GTT orders will be triggered only based on the live last traded price it is tracking on the exchange.
- Against all GTT orders pending to be triggered, you are required to maintain sufficient cash balance and/or sufficient quantity of holdings of the respective scrip and/or margin such that the GTT orders are placed for execution if and when the trigger price is reached or breached.
- In case cash balance, holdings or margin are insufficient at any point in time, pending GTT orders will be cancelled and new GTT orders will be rejected. In case multiple GTT orders are pending, Angel will decide, at its sole discretion, which of the GTT orders are to be cancelled such that remaining GTT orders may remain active for execution to the extent of available cash, holdings or margin.
- If you place a GTT order to sell securities held in Demat account, then you should have either furnished a PoA in favor of Angel, or you need to authorize the delivery using CDSL TPIN and OTP. The validity of authorization though TPIN is only 90 days. TPIN is not required if you have submitted a valid PoA.
- GTT orders will be allowed to be placed only through client logins over online channels. GTT Orders cannot be placed over phone calls (offline).
- Angel shall not be responsible for any financial loss that you may incur in your securities transaction using the GTT order facility and makes no representations, assurances or warranties as to any profits or other gains to be had from the use of GTT orders. Angel accepts no responsibility for non-execution of the GTT orders for any reason whatsoever, their cancellation or for any loss of opportunity to utilize the margins held against pending GTT orders in alternate investment options. Angel does not make, nor shall be deemed to have made, any representations or warranties of any kind, either express or implied, including but not limited to, representations or warranties as to the suitability or fitness of GTT order facility for your particular investment or trading needs, risk appetite or financial conditions.
- Angel reserves the right to modify the terms and conditions of GTT at any time without prior notice to you and any GTT order that you may place shall be governed by the prevailing terms and conditions. You shall familiarize yourself with the terms and conditions as are applicable to the GTT orders from time to time.