Policy on Handling of Good Till Triggered Orders of Clients

Good Till Triggered (GTT)

GTT orders enable clients to place buy or sell orders specifying three types of price conditions with a 364-day default timeframe validity for execution. However, in the event of corporate actions (such as stock bonus, rights issue, splits, mergers, etc.), these orders may be subject to adjustments or cancellation to avoid unintended execution or market disruptions. This document outlines our policy for handling such orders.

Details of GTT Orders

• Accessibility: Client login only (IBT / Mobile). The GTT feature is available only for client logins. Dealer logins do not have access to this feature.
• GTT Orders: Orders remain in the system until a pre-defined trigger condition (price or time-based) is met or the order is cancelled by the client.
• Order Validity: 364 Days Default Order Validity.
• Price Condition:
  • Price is Below: Order is triggered by the system and placed at market when the LTP comes below the specified trigger price.
  • Price is Above: Order is triggered by the system and placed at market when the LTP comes above the specified trigger price.
  • Immediately: Order is placed immediately at market at the time of GTT order placement.
• Combination of GTT Orders: Clients can place GTT orders in any combination of Main Leg, Stop-Loss, and Target Price or any one of the three by selecting the checkbox.
• Note: Stop-Loss and Target have a One Cancels the Other (OCO) relationship. If a client has set both Stop-Loss and Target, the system will cancel the other order once any one state is triggered. However, the Main Leg order does not have a relationship with Stop-Loss or Target. Both Main Leg Order and Stop-Loss/Target Order are independent.

2. Handling of GTT Orders During Corporate Actions

• Order Cancellation: GTT orders that remain unexecuted at the time of the corporate action may be cancelled to prevent any unintended execution at erroneous prices. The client will be notified promptly of the cancellation.

3. Client Notification Timeline

We are committed to providing information before the start of trading to our clients regarding upcoming corporate actions and the impact on their GTT orders. Clients will be notified through their registered communication channels (email, SMS, or the trading platform).

• Corporate action handling: No handling will be done by MANUMANGAL and the clients need to monitor and will be solely responsible for effect on prices and triggers based on stock / underlying specific corporate actions. Clients shall review their GTT orders proactively whenever there may be an impact of corporate action on their order/s. It would be the responsibility of the client to take appropriate action to modify / cancel orders accordingly.

FAQ FOR YOUR BETTER UNDERSTANDING

Good Till Triggered (GTT) Orders

GTT orders let clients set buy or sell orders with three types of price conditions. These orders stay valid for up to 364 days. However, if there are corporate actions like stock bonuses, splits, or mergers, the orders might be changed or cancelled to avoid issues. This document explains how we handle such orders.

How GTT Orders Work

• Who Can Use It? Only clients can access GTT orders through our software or app. Dealers cannot use this feature.
• How Long Do Orders Stay? GTT orders remain in the system until the set condition is met, or the client cancels them.
• Types of Price Conditions:
  • Price is Below: The order is placed when the market price falls below the set price.
  • Price is Above: The order is placed when the market price rises above the set price.
  • Immediately: The order is placed as soon as the client sets it.
• Order Combinations: Clients can set up GTT orders with a main order, a stop-loss, and a target price. They can choose one or all of these options.
• Important Note: If both stop-loss and target orders are placed, once one is triggered, the other gets cancelled automatically. However, the main order is separate and does not cancel when stop-loss or target orders are triggered.
• No Liability for Any Non-Execution or Any Lost Opportunity: MANUMANGAL, at all times, bears no liability towards the client for any reason whatsoever with respect to using the GTT Feature; including but not limited to, non-execution of any order using the GTT Feature / either leg of the order, any opportunity loss for non-execution of such orders / trades, any cancellation or nonplacement of any orders, and any such other claims which may arise from the client with respect to using the GTT feature.