I see the below status in the docs of kiteConnect. Can you tell me the flow of order stages/status, so that I can understand each of them better. There was a problem on 12 Oct 2020 for one of my order. I placed an SLM and the stop loss got hit, but my position was not closed and the order was not executed. The share started falling down. I cancelled the order and it showed as cancelled in the orders page. And then i did place a new SLM order and then after sometime, position was green and i did end-up making profit when the new SLM was modified and sold at higher price. But after 1 hour, the old SLM order which was showing as (OPEN PENDING), executed and made me a loss of more than 13K. Before this old SLM order got executed, the position tab showed me as no orders are still running. All these false indications on positions and Orders tab caused me a lot of trouble. Hence, if i could understand the stages better in a sequence, I could then understand where the order is right now, at what stage i mean. Hence, in a sequence of order execution, please explain the order stages.
Status PUT ORDER REQUEST RECEIVED Order request has been received by the backend VALIDATION PENDING Order pending validation by the RMS (Risk Management System) OPEN PENDING Order is pending registration at the exchange MODIFY VALIDATION PENDING Order's modification values are pending validation by the RMS MODIFY PENDING Order's modification values are pending registration at the exchange TRIGGER PENDING Order's placed but the fill is pending based on a trigger price. CANCEL PENDING Order's cancellation request is pending registration at the exchange AMO REQ RECEIVED Same as PUT ORDER REQUEST RECEIVED, but for AMOs
These are various stages of orders on our OMS, let me explain in the correct flow- PUT ORDER REQUEST RECEIVED -This is when the order reaches from Kite (when you key in the order through Web/API/App) to our OMS system.
VALIDATION PENDING- The order is validated against the rules set in the system to check for margins/holdings/circuit limits, etc. If the order doesn't satisfy any of the rules, it is rejected at this point.
OPEN PENDING- The orders that pass are now sent to the exchange through physical leased lines from our data center to the exchange. Yesterday, the issue occurred here when one of our lines went down(and most other brokers) and did not immediately switch to the backup line due to the power failure across Mumbai. At this point, as a broker, we don't get to the know if your order went to the exchange or not. There was a reconciliation done once the backup line was up and the correct order status is updated. In your case, the order has already hit the exchange and the position was closed. There could also be cases where the order didn't hit the exchange, in which case, after the reconciliation, the status will change to LAPSED. While line disconnections happen between the broker's data center and the exchange frequently, they are resolved within minutes(or even seconds), but due to the power failure yesterday, it took about 45 minutes. Unfortunately, as a user, you'd have to wait for the order status to be updated before you take action.
MODIFY PENDING- Same as Open Pending, but for price/quantity modifications for existing orders at the exchange.
CANCEL PENDING- Same as Open Pending, but for cancellation of an open order.
TRIGGER PENDING- This is the status after Open Pending for SL and SL-M orders when the order has successfully hit the passive order book of the exchange- Once the trigger is hit, it will change to an open Limit(SL) or Market(SL-M) order.
AMO REQ RECEIVED- This is when you place an AMO and the system records it. The order will be validated before market open and be placed at the exchange at 9 AM(EQ, CDS, MCX) or 9.15 AM(FO).
These are various stages of orders on our OMS, let me explain in the correct flow-
PUT ORDER REQUEST RECEIVED -This is when the order reaches from Kite (when you key in the order through Web/API/App) to our OMS system.
VALIDATION PENDING- The order is validated against the rules set in the system to check for margins/holdings/circuit limits, etc. If the order doesn't satisfy any of the rules, it is rejected at this point.
OPEN PENDING- The orders that pass are now sent to the exchange through physical leased lines from our data center to the exchange.
Yesterday, the issue occurred here when one of our lines went down(and most other brokers) and did not immediately switch to the backup line due to the power failure across Mumbai. At this point, as a broker, we don't get to the know if your order went to the exchange or not. There was a reconciliation done once the backup line was up and the correct order status is updated. In your case, the order has already hit the exchange and the position was closed. There could also be cases where the order didn't hit the exchange, in which case, after the reconciliation, the status will change to LAPSED.
While line disconnections happen between the broker's data center and the exchange frequently, they are resolved within minutes(or even seconds), but due to the power failure yesterday, it took about 45 minutes. Unfortunately, as a user, you'd have to wait for the order status to be updated before you take action.
MODIFY PENDING- Same as Open Pending, but for price/quantity modifications for existing orders at the exchange.
CANCEL PENDING- Same as Open Pending, but for cancellation of an open order.
TRIGGER PENDING- This is the status after Open Pending for SL and SL-M orders when the order has successfully hit the passive order book of the exchange- Once the trigger is hit, it will change to an open Limit(SL) or Market(SL-M) order.
AMO REQ RECEIVED- This is when you place an AMO and the system records it. The order will be validated before market open and be placed at the exchange at 9 AM(EQ, CDS, MCX) or 9.15 AM(FO).
Hope this helps.