GTT or Good-Till-Triggered is a type of order that allows you to place buy/sell orders with a lifetime validity through Samco. Now you can enter and exit your F&O and equity delivery positions at the pre-set prices with the help of the GTT feature.
Benefits of GTT orders
There are multiple benefits of placing a GTT order:
- Sit back & Relax – No need to track the markets constantly once you’ve placed the order.
- Easy To Use – Simply decide at what price you want to place an order and add long-term stoploss and target.
- Lifetime Order Validity – The order is not time-bound. It will remain valid for life, until it gets triggered.
- Zero Subscription Fees – You can use this feature for free. There are no additional fees/charges for using this order, only the brokerage cost will be applicable.
- Modify/Cancel Order Anytime – Easily modify/ cancel entry and exit conditions of orders anytime and as many times as you want.
- Applicable for F&O and Delivery – You can place GTT order to enter or exit F&O as well as overnight equity delivery positions.
Now, let’s take a look at how to place Buy/ Sell GTT orders through the Samco platform.
How to place a Buy/ Sell GTT order?
- Log in to the Samco platform and select the stock that you want to set up a GTT order on.
- On the pop-up, select ‘Create GTT’ button on top which will lead you to GTT order page.
- On the GTT order page, select ‘Buy’ on the top of the screen.
- Select the product type i.e. NRML for F&O and overnight equity leveraged positions (through CashPlus), CNC for delivery trading by paying 100% margin, and BTPT for delivery trading by paying a fraction of the margin while placing the order and paying the rest in 2 days.
- Enter the Trigger Price i.e. the price at which you want your order to be triggered and sent to the exchange.
- Enter Limit Price i.e. the price at which you want to enter the trade and want your order to be executed. Note: Your order would be placed between Trigger Price and Limit Price.
- Enter the quantity of stocks that you wish to place the order for.
- Agree to the terms and conditions and tap on ‘Create GTT’ button at the bottom of the screen. Your GTT order will be created successfully.
- You can also modify or cancel your GTT order anytime under the ‘Orders’ tab.
Likewise, you can place a Sell GTT order by switching the tabs on the GTT order window. Select the ‘Sell’ tab and follow the same process to set up a Sell GTT order.
- What is a GTT order?
GTT or Good-Till-Triggered is a type of order that allows you to place buy/ sell orders with lifetime validity. In this order, you need to give a Trigger Price (which is the price at which the order will be triggered and sent to the exchanges), Limit Price (which is the price at which the order will be executed) and quantity that you wish to purchase/ sell. Note: Your order would be placed between Trigger Price and Limit Price.
If you wish to set up a buy/ sell position in any stock or F&O contract, you can choose from the multiple product types – NRML (wherein you can create F&O and overnight equity delivery positions), CNC (wherein you can set up for the delivery of shares by paying 100% margins), BTPT (wherein you can set up for delivery of shares by paying a fraction of the margin at the time of purchase and the rest in 2 days).
- What is the validity of GTT orders?
GTT orders come with 2 order legs. First, is the Trigger leg, and the second, the Limit Order leg. The trigger leg of GTT order comes with a lifetime validity on Samco. Once the GTT order is triggered on Samco at the pre-set trigger price, your limit order will be activated and will be valid only for that day, i.e. if the limit leg of the GTT order is triggered and not executed by 3.30 PM on the same day, the entire GTT order will be canceled post market hours.
- What are the charges for GTT orders?
There are no additional fees/charges for using GTT order, only the brokerage cost will be applicable.
- What is trigger price and limit price in GTT orders?
Trigger price is the price at which your buy/ sell order gets activated. Once the trigger price is met or breached, the order will be placed on the exchange. The limit price is the price selected by you, at which you want the order to be completed.
5. Can you place target orders and stop-loss orders with the help of the GTT feature on Samco?
Yes. You can utilize the trigger and limit legs of the GTT order to place targets (price above the LTP/ Last Traded Price) or stop-loss (price below the LTP/ Last Traded Price).
6. What types of orders can you place using the GTT feature?
You can only place Limit orders using the GTT feature on Samco.
7. In what segments can you use the GTT triggers to place orders?
GTT orders can be used for delivery trading (CNC – Cash N Carry), trading in overnight F&O (stock derivatives, index derivatives, commodity derivatives, currency derivatives), as well as overnight leveraged delivery trading (using CashPlus).
8. What is the margin requirement for placing GTT orders?
There’s no margin requirement at the time of placing the GTT order. However, in order to get your order executed successfully, you must add/maintain the required margin anytime before the GTT order gets triggered.
9. When can you place a GTT order during the day?
You can place GTT orders from Samco web/ app anytime, any day.
10. How many GTT orders can you place on a single stock?
There’s no limit to the number of GTT orders that can be placed on a stock.
11. Do you need CDSL TPIN authorization before placing GTT orders?
No, you do not need CDSL TPIN authorization while placing GTT orders. CDSL TPIN authorization is required only when selling the equity shareholdings from your demat account.
Note: TPIN authorization is not required for trading F&O positions.
To avoid the hassles of authorizing holdings every day, please download your POA (Power of Attorney) copy from Samco Star and send it on the following address:
1004 – A, 10th Floor, Naman Midtown – A Wing, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013, Maharashtra, India.
12. Can GTT orders be modified or canceled through the Samco platforms?
Yes. All GTT orders can be modified or canceled anytime through Samco. You can check all your GTT orders under the ‘Order’ section on Samco.
Terms and conditions
Created GTT will expire in any of the following cases:
- Change in price of that stock due to stop price
- Issue of bonus shares / stock split
- Stock is put under ban for trade
- Change in ISIN / symbol code
- Limit order isn’t met on the same day as the order gets triggered
- In case of system failures, none of the GTT orders will get triggered even if the trigger price is met/breached.
- GTT orders for F&O segment shall be valid until the contract expires or until the order gets triggered, whichever comes first.
- Call and Trade option is not available for placing GTT orders in any segments as of now.
- It is mandatory for customers to maintain sufficient balance and/or holdings in their trading/demat accounts for their GTT order to get executed successfully. In case of insufficient balance or insufficient holdings the GTT order shall be rejected.
- GTT feature is allowed only on the Equity cash segment for CNC type orders on NSE & BSE (For us all asset types).
- All orders placed under GTT feature are placed only as limit orders.
So, without further ado, make the most of GTT orders on the Samco today.
In case you need any assistance, please reach out to us at email@example.com or connect with us at 022-2222-7777