Why don’t you guys go to courts then? We all agree that SEBI is bunch of Idiots. Idiot Babus to be precise. Either kill IBKR using legal route or force Sebi to reconsider your proposals.
This will be a great story. @nithin Sir, plz do take out time to write your experiences about dealing with Regulators and how this is impacting the growth of the healthy market in India.
Just executed my first basket order.
Faced some issues with execution especially for outside OI range.
@siva-reddy @nithin We are going to take positions outside range in any case then why force traders to go through so much trouble? It took nearly 15 trades instead of regular 4 to properly deploy the whole capital.
Earlier you have increased charges for the facilities/products that used to trouble you - like auto square off. Do similar here as well. Just increase the brokerage and allow to take positions outside range.
I think you can have a formal agreement with clients that will allow you to square off the standalone buy positions if no short position is added to it.
Going a little off-topic for this thread but got curious
Could it be that IBKR got all their algo’s approved by SEBI & hence are allowed to offer them to even retail customers?
Watched a session by @qna where he mentioned about the process for getting approval for doing Algo trading in India. But he mentioned that there was no legal framework for offering fully automated algo trading to retail customers.
However, I also chanced upon a nearly 2 year old news article which mentions about a company which got 5 of their algos approved by SEBI and were offering them to retail customers.
Hypothetically, if Zerodha applies to SEBI for approval for specific algos (like Iceberg, etc) and gets its approved, can they offer them to retail customers?
From my layman understanding of the whole situation, I think the reason why SEBI asked Zerodha to withdraw products like algoZ & i3 and still rejects any algo order types is because of Zerodha’s large customer base and likely disadvantage it will put all the other retail investors who use different brokers (specifically traditional brokers who can’t innovate their products at the speed at which discount brokers do). Given that algo based trading is already nearing 50% in trading volumes in Indian Market (as mentioned in this article), if all discount brokers start offering algo order types, I think very little space would be left for (profitable) non-algo (intraday) trades and the whole market will become an algo battlefield
Definition of Algo is different from what most ppl think.
For eg. even CO & BO are algos.
Now regarding @siva-reddy’s statements regarding SEBI hurdles - it’s weird with zerodha. @nithin has his own style of running business.
For eg. @nithin claimed can’ t provide paper trading citing his own certain fears. Now sensibull provides it. Good luck in proving that Sensibull is not Zerodha.(yes we know its completely different)
When someone is offering let them, why should we complain, at-least let their users get it.
This is not practical.
Not SEBI, exchanges has to approve.
Algo is not allowed for retail, in simple terms, not allowed on internet based platforms like kite, but can be provided on CTCL(dealer terminals), so normally companies offering those will be providing dealer terminal to clients who want to do algo.
This understanding is not correct.
That’s why I called it weird earlier.
If Algo is not allowed for retail, then how can you guys provide API?
And aren’t CO. BO also algos?
CO is not algo, BO is and it is pre approved for retail.
Is there an option to add the scripts from the market watch directly? This will save some time.
Thanks
Not possible.
Can I placed order in liquid stock option at market order along with basket order. As we do in NIFTY & BANKNIFTY option.
Is this eventual margin ever going to be maximum possible loss in case of sell spread? Eg one lot of nifty sell spread with strike difference of 100 would translate into a maximum loss of ₹7500. Will we ever see this figure as Final margin?
This was a much awaited feature for those who trade big quantity.
Thanks a lot Zerodha @nithin @siva-reddy
Never, what if after position one closes other leg? broker and system will be at huge risk.
Not possible.
@nithin @siva-reddy today i placed my first basket order got rejected / order was limit and then i executed it manually , while executing the basket order , if price quote / bid/ask displayed , will be a great help to modify and execute the basket order
