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Home » Our Offerings » Value Added Features » Good Till Canceled
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Good Till Cancelled ( GTC )

Usually, when you place an order, it is valid only until it is executed or the end of the day. You can place orders specifying the exact price you want, and not the current market price. These are called limit orders. These are valid for a day.

With the Good Till Cancelled (GTC) feature, you can place these limit orders without worrying about their expiration. These orders can be valid for as long as a year. You have the option of specifying the exact validity period.

How does GTC work?

  • When you place a GTC order, you are essentially placing a limit order. However, if on the first day, it is not executed, the order expires. Kotak Securities will then place a new order every day until it is executed.
  • For example, you place a GTC order on March 7, 2014 to buy 100 shares of Reliance Industries at a limit price of Rs 820. If you fix the expiry date of the order as April 7, 2014, you give the order a period of one month to buy at the specified price. If during this time, RIL share price falls to Rs 820, and you have 100 shares available, the order will be executed. If not, the order will automatically get cancelled.
  • Sometimes, the order can be only partially executed. In such a case, Kotak Securities will place a fresh request only for the remaining unexecuted portion of the order. This continues until your validity period expires or the order is executed.
  • Thus, you are essentially instructing Kotak Securities to place a fresh order until completion through GTC.
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Why to opt for GTC service?

  • Stock market investing is not just about buying the right share, but also getting the price right. For this reason, you can’t just place an order to buy a share, irrespective of its current market price.
  • For this reason, limit orders help you introduce conditions that suit your needs. This means, your order will not be fulfilled if the share price criteria is not met. Sometimes, the stock may take days, weeks or months to revert to a price of your liking. But, limit orders are only valid for a day. In this case, you will have to place an order every day to not miss the opportunity.
  • With GTC, you can place an order once and forget about it. You also have the option to specify the exact validity period. However, this cannot exceed 365 days.
  • Moreover, the GTC also allows you to complete the order in stages. Even if a few shares are available at the required price, the order seizes the opportunity and executes. This continues until either the order is fulfilled or the validity period expires.
  • GTC is not just for buy orders, but also sell. It will also execute a sell order if there is some buyer willing to purchase the shares at your required rate. This can also be conducted in stages.
  • All online existing and new clients of Kotak can avail GTC facility for order placement.

+ Expand AllFrequently Asked Questions (FAQs)

  • QIs this facility available for all segments?
    ANo. You can place orders through GTC only in the equity cash segment.
  • QCan I place stop-loss cash orders with GTC facility?
    ANo. You cannot place stop-loss cash orders with GTC order validity.
  • QCan I place market orders with GTC facility?
    ANo. You cannot place a market order with GTC order facility.
  • QCan I place cash orders with GTC order facility during the pre-open session?
    AYes. You can place cash orders with GTC order validity during the pre-open session. But the order will be sent to the exchange only after markets open.
  • QDo I need to have margin for placing orders with GTC order validity?
    A

    No unlike normal orders for GTC orders you do not need to maintain margin at the time of placing orders. GTC orders check margin at the time of execution.

    You will have to ensure that margin is available in your account to execite GTC orders and sufficient margin is maintained till the expiry of GTC order. The GTC order will be cancelled for the day if margin is not available at the time of order placement to exchange.

For more FAQs, click here

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KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. Attention Investors Prevent Unauthorized Transactions in your demat / trading account --> Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors. Circular No.: NSDL/POLICY/2014/0094, NSE/INSP/27436, BSE - 20140901-21

Kindly note that as per NSE circulars nos: NSE/INVG/36333 dated November 17, 2017, NSE/INVG/37765 dated May 15.2018 and BSE circular nos: 20171117-18 dated November 17, 2017, 20180515-39 dated May 15.2018, trading in securities in which unsolicited messages are being circulated is restricted. The list of such stocks are available on the website of NSE & BSE. In case of any queries, request you to kindly get in touch with Customer Service on 18002099191/9292

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The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time.
The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.

Please do not share your online trading password with anyone as this could weaken the security of your account and lead to unauthorized trades or losses. This cautionary note is as per Exchange circular dated 15th May, 2020.

Note: NSDL and CDSL have mapped Unique Client Codes (UCC) to demat accounts based on PAN, refer NSDL and CDSL circulars. Format for linking/delinking the UCC: NSDL: link | CDSL: link.

Clients are required to keep all their account related information up-to-date including details like email id, mobile number, address, bank details, demat details, income details etc. which will help the client to timely receive any information and to avail the various facilities relating to the Trading and Demat account. To update the details, client may get in touch with our designated customer service desk or approach the branch for assistance.

Investor Awareness regarding the revised guidelines on margin collection:-
Attention Investors :

1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
3. Pay 20% upfront margin of the transaction value to trade in cash market segment.
4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020, notice no. 20200731-7 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020, notice no. 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.
5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.
.......... Issued in the interest of Investors

Clients are hereby cautioned not to rely on unsolicited stock tips / investment advice circulated through bulk SMS, websites and social media platforms. Kindly exercise appropriate due diligence before dealing in the securities market.

Requirement of obtaining consent through OTP has been waived for off market transfer reason code “Implementation of Government / Regulatory Direction / Orders” Consent through OTP would continue to be required for all other reasons for any off-market transfers. Refer NSDL circular.

Covid-19 impact to clients:-
1. Applicable to clients on whose email id contract notes and other statements get bounced or who have opted for Physical contract notes/ other statements or Digital and Physical contract notes/ other statements :Due to the nationwide lockdown, we are unable send physical contract notes and other statements. To view them, log into www.kotaksecurities.com
2. Kindly update your email id with us to receive contract notes/various statements electronically to avoid any further inconvenience.
3. We are unable to issue the running account settlement payouts through cheque due to the lockdown. We request you to update your Bank account details to facilitate direct transfer to your linked bank account. You may approach our designated customer service desk or your branch to know the Bank details updation procedure.
4. Exchange advisory: Investors are advised to exercise caution while taking investment decisions in these unpredictable times. Clients are also encouraged to keep track of the underlying physical as well as international commodity markets. Clients are advised to undertake transactions after understanding the nature of the contractual relationship into which they are entering and the extent of its exposure to risk. Clients are further advised to follow sound risk management practices and not to be carried away by unfounded rumors, tips etc.

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Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. Telephone No.: +22 43360000, Fax No.: +22 67132430.
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