One of the most requested features to date has been for good till cancelled (GTC) orders – orders that are valid until cancelled. Offering this order type has been a challenge because exchanges in India don’t support this feature – all pending orders are cancelled by the exchange at the end of every trading day. The few brokers who do offer GTC, essentially replace all the pending orders which were cancelled by exchange once again on the next trading day. This solution isn’t scalable as every morning at market open there could be a need to place lakhs of orders on a limited messages per line connectivity every brokerage firm gets (400 messages/second/line) to the exchange over leased lines. The replacing of orders every day also has a very high operational risk.
We have found an innovative way to be able to offer GTC to all our clients at scale through what we are calling as Good Till Triggered (GTT) orders. You can not only place single-leg triggers to enter or exit stock holdings until your price condition is met, but also an ability to simultaneously place target and stoploss (OCO) for all your stock holdings.
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