GTC Orders on ICICIDirect

Alchemist · #1 2nd June 2011, 02:28 PM

ICICIDirect.com is now offering GTC orders (Good Till Cancelled).

The validity of these orders is 7 days (5 trading days).

Once an order is placed, it remains active for 7 days.

The details of the feature are explained here:

ICICI direct.com :: myGTC

Please note that these GTC orders aren't GTC in the real sense. Actually, ICICIDirect places a new order every day.

Quote:

When you place a myGTC order, you give an order instruction to I-Sec stating that if the order is not executed for the entire quantity, I-Sec is authorised to place fresh orders for the unexecuted quantity in your account on the subsequent trading days till the entire quantity is executed. The feature allows you to specify the number of days during which you wish to place the orders.

muralisankars · #2 3rd June 2011, 11:39 AM

Quote:

Originally Posted by Alchemist

ICICIDirect.com is now offering GTC orders (Good Till Cancelled).

The validity of these orders is 7 days (5 trading days).

Once an order is placed, it remains active for 7 days.

The details of the feature are explained here:

ICICI direct.com :: myGTC

Please note that these GTC orders aren't GTC in the real sense. Actually, ICICIDirect places a new order every day.

That's really good Initiative. As NSE and BSE doesn't support the GTC / GTD Order the only way to do is the Broker placing orders daily.

I feel this should be extended by other broker and without any extra charges.

sudhashbahu · #3 20th June 2011, 04:43 PM

Quote:

Originally Posted by Alchemist

ICICIDirect.com is now offering GTC orders (Good Till Cancelled).

The validity of these orders is 7 days (5 trading days).

Once an order is placed, it remains active for 7 days.

The details of the feature are explained here:

ICICI direct.com :: myGTC

Please note that these GTC orders aren't GTC in the real sense. Actually, ICICIDirect places a new order every day.

The validity is now up to a month. Today the myGTC orders showed a valid-till date of 19th July. Good show by ICICIDirect.

Now I wish they dramatically increase the number of scrips available under the "Equity SIP" option.

tipto · #4 21st June 2011, 07:05 PM

Is it that we cannot place these order during off market hours? It is giving price band message, moreover GTC order on NSE not allowed.

I do not see any Month limitation as well. Calendar option is provided so order remains valid till whatever date we want?

Alchemist · #5 21st June 2011, 07:25 PM

Quote:

Originally Posted by tipto

Is it that we cannot place these order during off market hours? It is giving price band message, moreover GTC order on NSE not allowed.

I do not see any Month limitation as well. Calendar option is provided so order remains valid till whatever date we want?

You can place orders at any time, but when the market is closed, the price has to be within 5% of last closing price.

NSE and BSE are both available for myGTC. I am not sure when NSE option is not working right now. Maybe it works only during market hours.

GTC orders can have validity of up to 1 month. Try giving an order with validity of more than 1 month. It will be rejected.