Good Till Triggered, often known as GTT, is a feature that enables you to specify terms like pricing and validity. Your order will stay in effect when it is submitted until the trade is carried out. This indicates that you won't need to place the same order daily until your criteria are fulfilled.
Without having to manually enter the same information every day, GTT enables traders and investors to enter and exit their trades in accordance with their defined specifications.
Main Features of GTT
- A limit order will be executed on the exchange in accordance with the limit price and predetermined conditions that you specify if your trigger price is reached at a future date using the GTT feature.
- Only CNC type orders in the Equity Cash segment on the NSE and BSE, as well as NRML type orders in the Equity Derivatives segment on the NSE, are eligible for usage with GTT.
- A GTT is a trigger that places a limit order (at the limit price you choose) once the trigger price you chose is reached or crossed.
- All such orders will be cancelled at the conclusion of that trading day session if the trigger price is violated on a given day but the chosen limit price is not precisely met on that same day.
- The GTT trigger can only be used once; therefore, if an order is placed but not performed for whatever reason, a new GTT order must be placed.
- An order would be placed at the chosen limit price if the Last Traded Price (LTP) of a share spikes higher than the trigger price chosen or if the LTP opens at a gap up or gap down exceeding the trigger price.
Working of GTT
For example, if you want to buy a share of a company named XYZ LTD if the price is below ₹100, then you can set this condition by using the GTT option.
The order will remain active until the share price falls below ₹100 and the share is bought in your name.
And vice-versa for selling of any shares.
Single Trigger feature of GTT
A single trigger price entered by You that could be used to start a stop loss order or a target order (if the LTP chosen is greater than the current market price) or (if LTP selected is lower than the current market price)
OCO(One Cancels Other ) feature of GTT
One Cancels Other, or "OCO": This feature type is applicable to the stocks that you hold in your Demat account. You can enter two trigger prices, one of which would be above the current market price and act as a target price, and the other of which would be below the current market price and act as a stop loss price.
Both Single and OCO triggers will be activated in accordance with the Trigger Price & Trigger Conditions that You have chosen.
When GTT get cancelled?
All GTT’s are cancelled after 365 days from placing such request in case they are not triggered as per the Trigger Conditions
Which type of order is allowed for GTT feature?
You will be able to select only limit order as a type of order for your using the GTT Feature.
Is GTT free in Zerodha ?
Yes, GTT as a feature/ service is free in Zerodha. There are no charges to use the GTT feature in Zerodha. However, when the GTT order gets executed, you need to pay the applicable brokerage, Demat charges, and exchange transaction charges.
Is GTT feature allowed in Angleone?
Yes GTT feature is available in Angleone.
Is GTT feature allowed in Groww?
No, Groww app doesn't allow us to use GTT.
Is GTT feature allowed in Upstox?
Yes GTT feature is available in Upstox.
In What conditions GTT orders may be cancelled or rejected when Trigger conditions are met?
- The GTT order is cancelled and withdrawn from the GTT Order queue if the trigger price is met or breached but the order transmitted to the Exchange does not meet the Order price (limit price) during the day's trading session.
- All GTT orders will be cancelled if the trigger price is not met within 365 days. From the moment the orders were placed, 365 days are to be counted as consecutive calendar days.
- The GTT will be cancelled, at Broker's sole discretion, one day prior to the exchange series change or any corporate actions, such as splits, bonuses, dividends, mergers, reverse mergers, amalgamations, takeovers, delistings, rights issues, etc. where there is a significant impact or change in the scrip price.
- The GTT orders will be cancelled if the trigger price is attained but the order price (limit price) is outside the particular scrip's circuit restrictions.
- Even if the trigger price is met, GTT orders will not be issued to the Exchange if the required margin is not immediately available in your account.
- A GTT order must be cancelled if it is activated but not executed at the Exchange for whatever reason.
- If you don't have a POA, the POA is invalid or inactive, or the T-PIN's validity has expired, a GTT order for the sale of securities stored in your Demat will not be processed.
- Before execution, you have the opportunity to revoke/cancel/alter the GTT orders at any moment without giving a reason.
What are requirements for placing GTT orders to sell?
If you place a GTT order to sell securities held in Demat account, then you should have either furnished a PoA in favor of Stock Brokers, or you need to authorize the delivery using CDSL TPIN. The validity of authorization though TPIN is only 90 days. TPIN is not required if you have submitted a valid PoA.