after hours orders not getting converted to stock exchange order

Discussion in 'Equities' started by hitesh shah, Feb 14, 2017.

  1. hitesh shah

    hitesh shah New Member

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    Hi All ,

    Of late I am experiencing frequent problem with my broker server that my after hours order instructions are not converted into valid stock exchange orders (4-5 times in a span of 2 months ) . As a result I dont get to participate in pre-open trades .Normally every day it gets converted at 9:00 am . But of late this problem happens (afterhours orders converstion to valid exchange orders ) and orders are sent to stock exchange @ at 9:20 or 9:30 which is very late and I suffer lot of my instructions get missed out in the initial 20-30 mins of the trade .

    I have raised this issue with borker and they say they are working on it and it will take 2-3 days to resolve this .

    To me this is simple issue and should be resolved immediately and should not recurr again .

    I wish to know other board members experience in this and also feedback as to any broker who has very good record in order execution space (importing order from csv file , proper participation in pre-open etc ) .

    Please share your experiences and feedback on this .
     
    Last edited: Feb 14, 2017
  2. hitesh shah

    hitesh shah New Member

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    Any feedback on this .

    This has happened 6 times in 2 months for me . And there is no sight of permanent resolution of the same.
     
  3. princy01

    princy01 Well-Known Member

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    Most of the guys here including me must not be knowing what are you talking about

    Can you please explain how all of this works, when it works?
     
  4. OneThatGotAway

    OneThatGotAway Well-Known Member

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    solution is Change broker

    Or
    Keep a normal buy order ready and moment u see first price change press enter
    that way your order be in exchange by 9:00:05 sec

    Yes thats possible my fastest time was 9:00:05 sec
     
  5. hitesh shah

    hitesh shah New Member

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    First option is definitely not feasible in short time .

    The 2nd option also is not feasible because I have 80+ order instructions in the morning and keeping / monitoring 80+ quotes/ pressing enters etc is just not feasible in short time.
     
  6. hitesh shah

    hitesh shah New Member

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    You can keyin the order in the morning @ 8:45 am . But the market pre-open starts @ 9:00 . Till the market starts , it remains with broker and at market pre-open @ 9:00 am , broker system forwards our orders to nse for participation in pre-open and executes the order if pre-open rate is suitable ( and keeps it pending if pre-open decided rate is not suitable) .

    The problem is that order instructions keyed in do not get in NSE system by 9:00 am sometimes (6 times in 2 months ) . It gets in NSE system somewhere around 9:30 am .

    The problem is the number of instructions keyed in are high and the instructuons keyed in can not be cancelled during open market (it can be cancelled when market is not open) . So due to this I loose on rates during first 30 mins and at times manually , I may end up with double quantity of the order (as original entered @ 8:45 am can not be cancelled).

    Hope u now u now understand the problem.
     

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