NSE SEBI Circular for Algo Market Order Penalty (from 1st-Aug-2023)

shivdas_b

How this circular can affect algo trader?
Circular Link : https://archives.nseindia.com/content/circulars/SURV57315.pdf

ChandiniM

@sujith @rakeshr please reply. Are market orders allowed if fired by Algos ?

vigred

@sujith @rakeshr need some clarity pls .. wondering what would the exchange impact be on the end user

Matti

Since we don't offer algos as a service, and all orders on Kite Connect are subject to the same risk management checks as all other orders from Kite, this doesn't apply to orders from Kite Connect.

This circular is for people having algos registered at the exchange and firing orders directly into the exchange systems.

madanus

@Matti - A little bit of reading about this led me to the Kite API terms page - https://kite.trade/terms/

Pl refer to the sections 2e and 3 - how do we go about getting the approvals mentioned on the page? Would be great if you can point me in the right direction (have already raised a Help ticket and they referred me to this forum.)

Thanks.

shivdas_b

ok @Matti understood.
please close this thread

sujith

@madanus,
For compliance related queries, you can write to kiteconnect(at)zerodha.com. They will get back to you.

madanus

@shivdas_b have you seen this link - might be useful to you - https://kite.trade/terms/

@sujith thank you for the reply - will try that

shivdas_b

@madanus ok brother , will go through this

pramodb

I read the T&C. Clause 2(e) e) Automated trades
""The APIs are not meant for placing fully automating trades (without manual intervention). If you wish to use the APIs for full automation, you should seek necessary approvals from the exchange. Zerodha can provide the necessary assistance in obtaining approvals.""

Please define "Fully Automated Trades"

Thanks/Pramod