A Time Based Order (TBO) lets you place trades based on price and time conditions. It helps you plan your trades in advance so they are placed at the right price or at the right time, without needing constant tracking.

TBO supports two key use cases:

Limit Order with a Time Limit

• You can place a Limit order for a stock such as ABC and set a time limit for it. If the order is not executed within the chosen time, you can decide what should happen next. The order can either be converted to a Market order or cancelled. This helps ensure the trade is handled within your preferred timeframe.

Example:

• You place a Buy Limit order for Stock ABC at ₹100 with a 15 minute validity. If the price does not reach ₹100 within 15 minutes, the order is either converted to a Market order or cancelled, based on your selection.

Scheduled Market Order

• You can schedule a Market order to be sent to the exchange at a specific time during market hours.

Example:

• You schedule a Market Buy order for Stock ABC at 10:00 AM. The order is sent to the exchange exactly at that time.

Overall, TBO helps you get your trade placed either at your preferred price or at your preferred time, without repeatedly checking the market.