Good Till Triggered order

What is a GTT order?

GTT (Good Till Triggered) is a feature that allows users to place buy or sell orders of any stock at market or limit price. These orders are executed (triggered) once the market price of the stock reaches your desired price (the price you mentioned in the GTT Order).

GTT orders are valid for 1 year and therefore these orders cannot be placed for intraday trades because of the year-long validity.

The trigger is valid only once. If the order is triggered and placed but not executed, the GTT order has to be placed again.

Types of GTT orders

Single Trigger: A single trigger can be set for the order placed at the exchange when the Last Traded Price (LTP) matches or breaches the trigger price. The single trigger can be used to enter new or exit positions.

One Cancels the Other (OCO) trigger: Both stop loss and target trigger can be set in an OCO trigger. When either of the triggers is hit, the order is placed at the exchange, and the other trigger is canceled.

Significant features of GTT

• GTT can be placed at any time of the day, but the orders will be triggered and placed only during market hours.
• Order history for triggered GTT is visible only on the day it is triggered and will not reflect from the next day.
• One account can have a maximum of 250 active GTTs simultaneously.
• GTTs for shares having corporate actions like a bonus, dividend, stock split, rights, amalgamation, etc., having greater than 5% of market value are canceled on the ex-date/record date. This ensures that the order is not triggered at a random price and it can be placed post the corporate action if necessary.
• GTT is available only for CNC and NRML product types. It cannot be used for other product types.
• GTT order is triggered even if a stock opens a gap up or down, having breached the trigger price. For instance, if shares closed at ₹120 on Monday and opened a gap up at ₹150 on Tuesday, placing a buy GTT with the trigger of ₹130 and limit price of ₹132, the order is triggered and placed at a limit price of ₹132. If it is not executed by the EOD, it is canceled like normal orders.
• Buy GTT OCO can only be placed in F&O contracts.
• Only NRML order types can be used in GTT OCO for index futures and options.

Things to note

1. When the buy order gets triggered and if sufficient funds are not available in the trading account, the order will get rejected.
2. Sell GTT orders triggered on equity holdings need to be authorized using CDSL TPIN to allow a broker to debit the securities from the client’s demat account and deliver them to the exchange.  The client does not have to enter the CDSL T-PIN and OTP to sell shares if the “Demat Debit and Pledge Instruction”  (DDPI)  is already submitted.