POLICY FOR HANDLING GOOD TILL DATE ORDERS

Policy on Handling of Good till Cancelled Orders for clients

1. Background :

Exchanges vide it's circular NSE/INSP/62528 dated June 21, 2024 and BSE 20240622-2 dated June 22, 2024 on the issue of 'Policy on Handling of Good till Cancelled Orders offered by Members to Clients' advised Trading Members to formulate a policy in case they offer "Good Till Cancelled" / "Good Till Triggered" orders or orders of similar type.

2. Scope:

The Exchanges have stated that the policy shall include –

  • Details of Good till Cancelled/Good till Triggered/orders of similar type provided by member including its validity.
  • Manner of handling of such orders in case of corporate actions (e.g. cancellation, price reset, retaining, etc. for the unexecuted orders).
  • Provide timeline within which the member shall intimate their clients about details of upcoming corporate actions applicable for such unexecuted orders of clients, which shall not be later than one day prior to the ex-date of the corporate action.

3. Details of Good Till Cancelled/Good Till Triggered/orders –

a. Tradebook Consultancy Services Private Limited. ("Trackk") enables it's clients to place "Good Till Date" (GTDt) orders.

b. GTDt is an order facility through which a client can place buy and sell limit orders in shares, index futures & index options specifying the period for which the order instruction is valid. The period selected by the client shall be within the maximum validity date defined by Trackk. Since client has the right to define validity date ("order validity date"), this order type is called as Good Till Date (GTDt) order.

c. Clients of Trackk who are eligible to trade in Equity Cash product & Derivatives can avail GTDt facility for order placement.

d. Currently the facility of placing a GTDt order is available in Equity Cash product only. As and when, GTDt orders are introduced in new segments the same shall be displayed through the Trackk website.

e. GTDt orders can only be placed by specifying a limit price. GTDt orders cannot be placed at market price.

f. If a GTDt order is not executed for the entire quantity, Trackk shall place fresh orders for the unexecuted quantity for the client on the subsequent trading days till the entire quantity is executed or till the validity expires, whichever is earlier. This feature permits the client to specify the number of days during which the client intends to place the order.

g. GTDt orders can be placed during the pre-open session for all scrips, however only orders in scrips that are pre-open enabled would be sent to Exchange during the pre-open session. Orders in all other scrips not enabled for pre-open session would be treated as overnight orders and sent to Exchange during normal trading session.

h. Client shall ensure that necessary funds/margins are available to place and execute GTDt orders in their account for the unexecuted quantity of the GTDt order.

i. "Order Validity Date" means the date entered by the client while placing GTDt orders. This date shall be equal to or less than the maximum validity date defined by Trackk which would appear as the default "Order Validity Date". Client can choose the GTDt order validity date as less than or equal to the maximum validity date defined by Trackk. Client shall not be allowed to place orders with GTDt validity beyond maximum defined validity date.

j. In case the GTDt order validity date falls on a non trading day, the order is expired by Trackk on the last trading day which falls prior to such order valid date which is a trading day. Post the expiry, the status of GTDt order is updated as Expired (Closed).

k. Once a client has placed a GTDt order, Trackk will place orders for the unexecuted quantity of the GTDt order for all the days during the validity period or till the quantity is fully executed or cancelled or rejected due to any reason. Client can login to check the status of such orders.

l. For the unexecuted quantity, orders shall be placed daily as overnight orders during the validity period, i.e. until the order validity date is less than or equal to the next trade date provided such GTDt order remains unexecuted and is not cancelled, nor rejected due to any reason. The orders would be placed on these days provided they are trading days.

m. All securities in BSE & NSE except securities in debt segment, NCD, Bonds and illiquid securities are eligible for placing GTDt order.

n. Orders with GTDt validity can be placed both during the market hours as well as post market hours.

o. GTDt orders can be placed over authenticated Call to the Trackk's dealer.

p. Clients can modify the quantity or limit price of a GTDt orders. Clients can modify the order only when the order is in 'Ordered status' (during market hours) or 'Requested status' (after market hours). "GTDt Blocked" orders cannot be modified.

q. All GTDt orders can be cancelled.

r. The Brokerage rates and applicable charges are same for normal equity / derivative transactions and GTDt orders. Further, GTDt orders shall be settled in the same manner as normal equity / derivative transactions.

4. Policy Communication :

This policy shall be made part of the Account Opening booklet under heading "Policy on Handling of Good Till Cancelled Orders of Client" of Policy and Procedures document and shall also be displayed on the Trackk website (https://www.Trackk.in).

Review

This policy shall be subject to periodic review to ensure its effectiveness and compliance with regulatory requirements. Any necessary updates or amendments shall be made accordingly.