What is a Good Till Date (GTD) order? How does it work?
A Good Till Date (GTD) order is an order time condition wherein an order remains active till a pre-defined date. These orders can be kept active for a maximum of 365 calendar days unless executed, expires, or is cancelled. The GTD order facility is only available for the equity/cash segment.
For example, Mr Renju places a GTD order on 1st Jan 2021 to buy 100 shares of SAIL at a limit price of Rs. 55 per share, with 15th March 2021 as the expiry date.
The current market price of SAIL is Rs. 75. Hence, the order remains active till:
- It gets executed (at Rs. 55), or
- It is cancelled by Mr Renju, or
- It expires on 15th March, or
- It is cancelled by the system as a result of a corporate action such as a bonus issue, stock split, merger, etc. In this case, the order is cancelled before the ex-date.
Important points:
1. To place a GTD order, you will first have to accept its Terms & Conditions.
2. GTD orders can be placed by only by PoA/DDPI clients.
3. GTD order placement is subject to sufficient buying power/holdings being maintained in your account. If the order is placed during market hours, buying power/holdings are immediately validated. If placed after market hours, buying power/holdings are validated when the market opens and the order is sent to the exchange. If the order is rejected, it can be viewed in the OMS Rejection Report.
4. If your GTD order price falls outside the DPR, the order will be rejected by the exchange when sent to the market. In case the price range is modified by the exchange during the day, a fresh order will not be sent as part of your GTD order (the order for the day has been rejected).
5. When a GTD is placed it is shown in the AMO/GTD order book under 3 statuses:
- Saved- Saved in the order book
- Queued- Orders are queued after 8:45 a.m. to be sent to the exchange
- Sent- Orders are sent to the exchange after the market opens
6. Till an order is Sent, it is only shown in the AMO/GTD order book.
7. When the order is under Sent status, it will show in the open order book as well.
8. After 8:45 a.m., (when an order is in Queued or Sent status in the AMO/GTD order book), GTD orders cannot be modified or cancelled from the AMO/GTD order book. They can only be modified or cancelled once the order comes to the open order book.
9. As a value-added service, a daily report is sent to your registered email ID to help you keep track of active GTD orders in your account.
To place a GTD order on FLIP mobile/ SELFIE web/ TraderX:
Select the Time Cond as GTD in the order placement window.
Please read the policy published by Geojit to know more about the product :
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