Understanding order execution

Whenever i place order from API or Kite mobile app, i guess it does not directly get executed in market. It will go to broker,first and there is some time delay, then it is executed. Please correct me if it is wrong.

Now i want to know if i place intraday MARKET order, it will directly get executed or it will go to broker then it is executed(like LIMIT order).
Can you also tell me the time delay for both Market and LIMIT order
  • rasp
    every order will be executed by your brokers' account in the name you.
  • darsh
    @rasp thank you
  • darsh
    @sujith if you can provide information about time delay for market and Limit orders then i will really appreciate it
  • rasp
    @darsh Sorry! But i think you don't understand Market and Limits orders. Whatever type of Order you place, it will be routed to NSE server by your broker, and if its a Market order it will be routed to NSE server, and there it will be matched with The Best Offer on NSE server, if its Limit it will sit on NSE sever waiting to Executed. If you want to know the Latency due to Broker siting between You and NSE, then there will be definitely some Latency, But you shouldn't be worried about it as it will be very less.If you still want No latency then you will have to spend verry verry big amount (and many license ) to be able to put your computer on NSE Co-Location, there everyone gets wire of same size, so there is no data race to get the tick first to your computer. This co-location provide almost no latency.
  • Matti
    @darsh In India, the broker doesn't hold your orders. The orders hit the exchange immediately, and as such, you also receive an exchange order ID in the response. So, to answer your question, there is no delay.
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