Traders are increasingly utilising Good Till Triggered (GTT) orders, which provide automatic execution of an order after one or more trigger prices have been reached. Typically, GTT is available to traders in significant segments: primarily, the GTT is applied in the cash and derivatives segment.

Equity Cash Segment

In the Equity Cash segment, GTT orders are allowed for delivery and CNC (Cash and Carry) products on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). In other words, investors can simply set a trigger price for a particular stock they are either looking to buy or sell, and they do not have to monitor the stock continually.

Future & Options Segment (F&O)

In the case of Equity Derivatives (F&O), GTT orders can be utilised for futures and options products. These orders would typically be placed with the NRML (Normal) product type, where a trader can effectively automate trades on GTT orders for the specific contracts.

There are some small but important aspects to consider before executing GTT orders. First, GTT orders are limited to certain product types; it was previously stated that GTT orders are in the form of CNC for Equity Cash segment and, NRML for Equity Derivatives (F&O) segment, before emphasising again concerning all products but do not apply for intraday slash or other products.

Second, GTT orders can remain valid until they are executed, canceled, or the contract expires. For equity, this remains valid for up to one year, or until the expiration for F&O contracts.

Currency Futures and Options

Traders can place GTT orders alongside currency futures and options contracts, supporting quick movement in FX contracts without having to manage continuous observation in their trading environment.

MCX Futures

Likewise for MCX Futures, which operate in the commodities segment, GTT orders will facilitate automated entries and exits on commodity futures while retaining control over entry and exit points on predetermined triggers.

Just like all the other segments, both of these markets will place GTT orders as limit orders. Again, GTT orders are held valid until triggered or canceled, or when the contract expires.

Additional Information

Furthermore, GTT orders can only be placed as a limit order to ensure trades execute either at a given price or better. Also, it is salient to highlight that availability and supported segments may differ from broker to broker.

Some brokers may allow GTT orders in segments beyond the one offered when creating it, or other brokers may limit further the GTT orders. Traders should check with their appointed broker for their supported segments and types of products.