Place order at Last Trade Price

Hi @sujith @tonystark
Do you have an option where i can place orders at last trade price rather than a market price or even specifying a limit. Most tools have this option (like NEST). I know i can always get the LTP and then pass it to order function to execute at LTP limit price, but a better way would be to directly let api do it. Any thoughts?
  • sujith
    This is a tricky feature. A user should always know what price he is placing the order for.
    In case of F&O segments, the next bid and ask will be very far away than LTP. If some trade happens on the next bid or ask then the next LTP will far from the previous LTP which can potentially increase the risk to the trader and hence broker also.
  • razcads
    @sujith The ltp is recorded in the system at any given time and mechanism to trade at that price can be provided aint it? No need to bother about bid and ask spreads. Is there a way I can ask this as feature request? I would think this would be fairly straight forward.
    But then if it really comes out as too complicated well cant do much!
  • sauravkedia
    I would second it.

    But I would add, we would need two features: one at LTP and other at mid of Bid+ask. Considering the infrastructure bottlenecks, there is time delay between the bid/ask appearing in market to you capturing that, sending it us through websockets, we collecting it, extracting LTP and then sending orders with that LTP as price. I can see massive execution gains, if this is done.

    This is relevant not only for those who want to trade faster. Traders who care about fill prices and slippage would ideally enter and exit through Stop/Limit orders. However, if a trader wants to monitor prices himself, this will be very helpful. That, unfortunately, is sometimes a necessity. Say, in case of MIS/BO/CO orders, if a trader wants to exit at exactly 3.15 pm efficiently, he would send a limit order to exit at LTP/ mid of bid-ask/bid/ask, while running a risk that by the time he actually ends up placing it, this Limit level has gone stale.

    Take another scenario. The order types provided by you, though excellent by market standards, maynot satisfy all traders. If one wants to create his own custom order (say a simple TWAP order) on back of your supported orders , he will be able to execute it very efficiently using this.

    Simply put, a lot of us need to place Limit orders at LTP /mid of bid-ask and this would be a great service if available.


  • sujith
    sujith edited February 2018
    I am afraid we can't provide that.
    You can use the new quote call to fetch LTP and place an order.
    Kite Connect is purely an execution platform which provides only fundamental APIs which are required to build platforms or strategies.
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