What is VTC in ICICI Direct?

Valid Till Cancelled (VTC) defines the validity of an order. The VTC order remains in the system until the entire quantity is executed or till the validity expires, whichever is earlier. The feature allows you to specify the number of days during which you wish to place the orders. The unexecuted order can be cancelled by the customer at the point of time.

The VTC 'Order Validity Date' is the date selected while placing VTC order. Any unexecuted VTC order by this date gets automatically cancelled.

Example:

You place a VTC order to buy 100 shares of a company at a limit price of Rs 1800 per share. You specified a validity date of 60 days from now. Your VTC order will be valid until 60 days. Anytime within the validity period if the shares are available at the specified price, the system will execute your order. In case the stocks are not available at the price, it will get cancelled on the specified date.

VTC Order Facts:

• Also known as GTC or Good Till Cancelled order
• VTC is available to all customers at no additional charges
• VTC is available on Equity Cash and Margin client mode products only.
• VTC is available for both Buy and Sell orders.
• VTC is not available when placing Stop-loss orders
• Only limit price orders are available in VTC. Market orders can't be placed.
• VTC order can be modified or cancelled at any time.

Advantages of VTC Order

With this facility, if your order remains unexecuted on a specific trade date you are not required to log in again and place the same orders again. ICICI Direct will keep submitting your remaining order to the exchange everyday morning.