Hi all, I use algo for personal level trading — static IP registered, orders well below 10/sec. I also place GTT orders via API as an emergency stop loss.
are GTT orders placed via API classified as "algo orders" under the new SEBI framework? And if so, do they need to be tagged with an algo ID?
Couldn't find anything specific in the forum or NSE circular. Appreciate any clarity.
GTT orders placed via API are not classified as algo orders under the current framework. This is because a GTT (Good Till Triggered) setup only places a limit order when a predefined trigger condition is met. The actual order execution is handled by the exchange after the trigger, and it does not involve continuous algorithmic decision-making or automated order management. No algo ID tagging is required for GTT orders.
This is because a GTT (Good Till Triggered) setup only places a limit order when a predefined trigger condition is met. The actual order execution is handled by the exchange after the trigger, and it does not involve continuous algorithmic decision-making or automated order management. No algo ID tagging is required for GTT orders.