This may sound unrelated to API users but this affects us very much. Because bo are blocked so we had to make changes to every product that we have made.
1. Change all our previous algo for all users who were having bracket orders. 2. In new products, we have to implement mechanisms that will keep the algo running with help of mis , when bo is blocked. 3. Robust features like trailing cannot be used if bo is blocked.
Why doesn't zerodha just remove leverage from bracket orders and allow it. Leverage may be bad in volatility but bo features are very useful.
We've decided to pause bracket orders till volatility in the markets subsides. The way bracket order is designed by our OMS vendors(Thomson Reuters, now Refinitiv) is quite complicated adding a substantial load on our system.
We've introduced GTT for Equity a while ago and GTT for Index F&O last week which you could use if you are looking at placing protection orders without the use of any leverage.
Alternately, since you are an API user, you could build your own bracket orders using MIS by simulating stop-loss and target orders.
Let me rephrase the question from a tech standpoint. If the margin requirements for BO and GTT are not same, how can we GTT be used instead of BO. The only differentiation I see is that one does not have block any margin amount to place a GTT order.
GTT doesn't care about the margins in the account. You need to have a sufficient amount when the order is triggered or else the order will be rejected.
Apologies for the delayed response.
We've decided to pause bracket orders till volatility in the markets subsides. The way bracket order is designed by our OMS vendors(Thomson Reuters, now Refinitiv) is quite complicated adding a substantial load on our system.
We've introduced GTT for Equity a while ago and GTT for Index F&O last week which you could use if you are looking at placing protection orders without the use of any leverage.
Alternately, since you are an API user, you could build your own bracket orders using MIS by simulating stop-loss and target orders.
Thanks, sir. GTT will sort my issue.
You can go through this GTT trigger params detail.