 |
| | | | | | | | | | | | | | | | | ||||||||||||
| |||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||
 | | |
| | |
| FAQ's > Equity > GTC | ||
Good Till Cancelled (GTC) FAQ's | ||
| 1. |  | What is "GTC"? |
| A. | | GTC stands for Good Till Cancel. GTC is a type of order that enables client to place buying and selling orders with specifying time interval for which instruction of request remains valid. The maximum validity of a GTC order is 365 days. |
| 2. | | How does GTC order feature work? |
| A. | | GTC request works on instructions given by client to place buy and sell order in given scrips till the period of time selected for GTC orders, provided that execution of entire quantity has not taken place. Buy Order Example Current market price is = 250 Scrip Name = ABC Quantity = 100 If you wanted to buy this scrip at 200 Rs. in the next 200 days, you can place a GTC order with buying price = 200, Quantity = 100 and select your Close date (i.e. 200 day from today's date). Sell Order ExampleCurrent market price is = 250 Scrip Name = ABC Quantity = 100 If you wanted to sell this scrip at 300 Rs. in next 200 days, you can place a GTC order with selling price = 300, Quantity = 100 and select your Close date (i.e. 200 day from today's date). |
| 3. | | Is this facility available for all clients? |
| A. | | Yes, it is available for all clients who can put orders online. |
| 4. | | Is this facility available for all segments? |
| A. | | No, this facility can be availed only under Equity CASH segment. |
| 5. | | Can I place Buy and Sell GTC orders? |
| A. | | Yes, this facility is available for both buying and selling orders in Cash segment. Sell orders are allowed in GTC which should not exceed the Net Quantity available in Current Buy Traded + BNST + DP - any Sell Open orders (Including AMOs). This condition is checked while placing the order to exchange. |
| 6. | | Can I place GTC orders with disclosed quantity? |
| A. | | Yes, while placing GTC order one can specify disclosed quantity. |
| 7. | | Can I place Stop loss GTC order? |
| A. | | No, with GTC order stop loss orders cannot be placed. |
| 8. | | Can I place market orders with GTC facility? |
| A. | | No, with GTC facility market orders cannot be placed. It is allowed only with limit price. |
| 9. | | Can GTC order be placed during the pre-open session? |
| A. | | Yes, during the pre-open session one can place cash orders with GTC order validity. Order sending (to respective exchange) will start only after market opening received from respective exchanges. |
| 10. | | Do I need to have sufficient margin for placing orders with GTC order validity? |
| A. | | At the time of order placement Kotak Securities accepts GTC orders without checking margins unlike normal cash orders. For the successful execution of GTC order one need to ensure sufficient margin in account. If sufficient margin is available at the time of order placement to exchange, the GTC order will be cancelled for the day. |
| 11. | | What is Order Close Date? |
| A. | | Close date is a date chosen by costumer out of maximum validity date defined by Kotak Securities that is 365 days to place cash orders with GTC facility. Order validity date is selected at the time of GTC order placement and it defines time period for which order will remain active. |
| 12. | | How can I specify the Close Date? |
| A. | | Close Date can be selected from the calendar given in GTC order placement form. |
| 13. | | What happens if GTC order Close date falls on a non-trading day? |
| A. | | If GTC order Close date falls on a non-trading day, the order is expired by Kotak Securities on the last trading day which falls prior to non-trading day. |
| 14. | | Do I need to log in on every trade date to place the unexecuted GTC order? |
| A. | | No, you do not need to place your unexecuted order on daily basis; once you enter the GTC order it will be valid till the close date or till order gets traded. Any partial unexecuted order will also enter by the system till order gets executed. |
| 15. | | Is GTC available for all exchanges? |
| A. | | GTC is available under cash segment for NSE and BSE. |
| 16. | | Can I place GTC orders at any time during the day? |
| A. | | Yes, you can place GTC orders at any time during market hours and even post market hours when the site is open for placing AMO orders. |
| 17. | | Is GTC available through call and trade? |
| A. | | Yes, you can place GTC orders through call and trade. |
| 18. | | Is there any limitation on number of GTC orders? |
| A. | | No, there are no such limitations. You can place multiple GTC orders in a day. |
| 19. | | Is there any limitation on number of scripts in which GTC order can be placed? |
| A. | | No, there are no such limitations on number of scripts in which GTC order can be placed. |
| 20. | | Is GTC available for all scripts? |
| A. | | GTC is not available for illiquid scripts. |
| 21. | | Is there any limit on the value of the GTC orders for particular script? |
| A. | | Yes, there is a limit on the total value of orders placed on a single script by the client as follows: Scrips under super multiple order values should be less than 10 lakhs and for others it would be less than 3 lakhs. |
| 22. | | Is there any additional charge applicable on GTC? |
| A. | | No, there is no additional charge for GTC orders. The Brokerage rates and applicable charges are same for as your normal Cash transactions. |
| 23. | | What would be settlement cycle for GTC order if traded? |
| A. | | Trades due to GTC orders can be settled as normal cash trades on T+2 bases.Settlement may change due to a bank holiday. |
| 24. | | Can I cancel GTC orders? |
| A. | | Yes, you can login to your account and visit the GTC order to modify or cancel your GTC orders any time when the order is reflecting under ordered status. |
| 25. | | When will a GTC order trigger in market? |
| A. | | GTC orders will trigger in market if LTP of stock is under +/-5% of GTC order. |
| 26. | | What if market opens with a gap? |
| A. | | GTC orders where CMP is below 5% of GTC order price, order will not trigger if market opens with gap down more than 5%. |
| 27. | | Can I modify GTC order during the market hours? |
| A. | | GTC orders not sent to exchange will be available for modification. You cannot modify GTC orders sent to exchange or when it is in active status. To modify price you can cancel the existing order and can place new GTC or normal order. |
| 28. | | What if my account is under margin shortfall and top up my margin during the day? |
| A. | | If available margin in account is not sufficient at the time of triggering GTC order, any top-up during the day will be ignored. |
