What are the requirements for placing a GTT Order involving demat account securities?
If you place a GTT order to sell securities held in a demat account, you must authorize the holdings using a NSDL TPIN.
If the holdings are not authorized or the TPIN has expired, the GTT order will be rejected once triggered.
Authorization is not required if you have submitted a valid DDPI (Power of Attorney).
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What is a Demat Account?
Imagine a safe deposit box at a bank, where you can keep your valuables. A Demat account is like a digital safe deposit box for your shares and securities. Instead of physical certificates, you hold these investments electronically.
How to cancel an open GTT order?
You can cancel it from the Order book. Go to Order book – GTT --- Select your GTT open orders and cancel.
What is the GTT order?
A GTT (Good Till Triggered) order is a type of order that remains active until a specified trigger price is reached. Once the trigger price is hit, the order is placed at the limit price set by the client. GTT orders can be applied to various types ...
How does a trading account differ from a demat account?
A trading account places buy or sell orders in the market, while a demat account holds the securities bought. In simpler terms, a trading account is for transactions, and a demat account is for storage. Both accounts are necessary for trading in the ...
How does a GTT Order work?
A GTT (Good Till Triggered) order consists of: - - Trigger Price: The price at which the order gets activated. - Limit Price: The price at which the order will be executed. - Stop-Loss/Target Orders: Optionally, you can set stop-loss or target ...