Why did Zerodha stop offering Execution Algos?

I was going through the old blogs on Zconnect where I noticed that Zerodha was offering i3 execution algos but has now stopped it.

Why’s that? You could maybe integrate it with Kite if nest has been stopped.
It would really help big traders like us where impact cost would reduce.

You could maybe sell it as an extra chargeable add-on.

@nithin @siva @ShubhS9

All those algos didn’t really get approvals to be given out to retail. Hence it was never really launched.

But then how is Interactive brokers offering it in India?

Check this out @nithin

Is this grey area?

@nithin

I don’t think those Algo’s are available for Indian markets.

@siva can you check once.

I will.

I wrote an email to them.
This is what they replied-

The link they have shared takes us to the same link I shared above, So I guess they do provide execution algos to retail.

What’s your opinion? @nithin @siva

Did you tried using any of those algos for Indian markets?

I don’t have an account with them. I have a friend that does. Let me ask him

I spoke to him. He said that not all algos are available for NSE, but there are more than a handful.

@siva

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Ok, they may be offering, they are too small to be noticed and raise a complaint on exchange, even they have a policy of minimum margin to maintain. We on the other side has 5 million clients and anything we offer is all over the place. It is not that tough to offer at least few algos but just that they are not allowed for retailers.

There are many third party tech vendors that offer these and many more advanced algos (dynamic delta hedging and stuff) to retail customers.

How is it that this has been operating? This is one company that I know. They have also listed many prominent brokers like Kotak, Motilal, Anand Rathi as their clients.

Check this out @siva

They offer most of them on dealer terminals(CTCL), not on Internet based platforms like kite.

Not necessarily.

I asked a friend who uses their services. He said that IIFL has tied up with greeksoft.
They even allow it for retail terminals.

@siva

Can you name few algos they provide?

There was a misunderstanding at my side.

IIFL has tied up with this company called Blitz to offer these algos and not greeksoft

The orders they offer are similar to Interactive brokers.

IIFL has posted one video showing how one of their algo works

Check this out @siva

As mentioned above this is dealer(CTCL) terminal and not IBT platform. CTCL means where multiple account IDs can be seen at a time.

Yes, the video shows dealer terminal, but this works in retail terminal as well.

Could you please check with exchanges/ SEBI if you might be allowed to launch those algos in a few months’ time?

Since Interactive broker is one of the biggest brokers providing trading in many exchanges around the world. I am sure they would not launch those algos if they were in grey area or were not allowed by SEBI/ Exchanges, Right?

Just a feature addition request from a happy zerodha user :slight_smile:

@nithin @siva

We did many times and those are not allowed on normal retail terminals.

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