Downtime Utility
Ensuring the seamless operation of a Trading platform is paramount in stock trading. Despite our best efforts, unforeseen events may occasionally disrupt trading applications, stemming from issues such as internet connectivity, internal or vendor-maintained servers, Exchange connectivity etc.,
It's crucial to recognize that while the trading platform may experience interruptions, the market continues to evolve, and prices move accordingly. This situation poses a challenge for clients who, during such downtimes, are unable to place orders, potentially leading to financial losses.
To mitigate such risks, we have introduced a downtime utility designed to empower clients to execute orders on an independent system even when the primary trading application is unavailable. This utility provides clients with the ability to square off existing positions at market rates and view their current positions, offering a proactive measure to avoid potential financial setbacks.
We understand the significance of uninterrupted trading, and this downtime utility serves as a valuable tool to enhance the resilience of your trading experience. Our commitment is to provide you with the tools and solutions necessary to navigate challenges and minimize any impact on your financial objectives.
Here are Important Instructions which should read before using the Utility
1) This is a downtime utility & will be enabled only when there is a long downtime
2) Only Square-off Orders will be allowed.
3) Only market orders will be accepted.
4) Orders placed through this utility will be routed to Exchange once every 4 minutes.
5) Only one square off order can be placed at a time. Square off button will be disabled till the time the first square off order is sent to Exchange and executed.
6) Trade Confirmation will be triggered to your Registered Mobile number via WhatsApp.
7) This is a stand-alone system and hence, trades executed through this utility will not reflect in the Trading App/ Platform once the trading platform resumes.
8) Hence, you are requested to check the trades executed through this downtime utility (after the Trading Platform Resumes) and not repeat the same in the Trading App/ Platform.
9) Alternatively, you may check the overall positions, once the trading platform resumes, by logging to web version and clicking on Statements & Reports – Trading - Net Positions –For Date as the trade date - Tick Include Live Data and View
11) To view from Rocket Plus App, login to web version and click on ‘Human Sign’ at the top of the page - Back Office – Net Positions –For Date as the trade date - Tick Include Live Data and View
12) Margins released on trades executed in the Downtime Utility will also not be adjusted once the Trading Platform Resumes
The basis purpose of this Utility is to help square off orders in order to avoid financial losses that could otherwise arise.
Terms and Conditions
Purpose: The purpose of this utility is to empower clients to place square-off orders for their opening positions in the event of a trading system downtime, ensuring they can manage their portfolios effectively even during unexpected disruptions.
T & C
Availability: This utility will be accessible exclusively during instances of long downtime in the trading platform.
It is designed to facilitate square-off orders for existing positions when the trading system is temporarily unavailable.
Order Types: Only square-off orders for open positions will be accepted through this utility. Fresh position creation orders will not be processed. Such square of orders can only be placed in Market price, limit orders are not allowed.
Order Modification: Pending orders that were placed before the downtime period cannot be modified in the Downtime utility. Users are advised to consider this limitation when placing square-off orders. Any losses on account of such pending orders getting executed during downtime are the responsibility of the client.
Order routing: Orders placed through this utility will be routed to Exchange once every 4 minutes.
This is a stand-alone system and hence, trades executed through this utility will not reflect in the Trading App/ Platform once the trading platform resumes. Hence, you are requested to check the trades executed through this downtime utility and not repeat the same once the Trading App/ Platform resumes.
The updated trade positions can be seen in the downtime utility before executing any further trades in the Trading Platform (after its up).
Data Source: This utility relies on feeds provided by the exchange through NSEIL Online Trade Inquiry
System (NOTIS). Navia makes best-case efforts to provide real-time trade updates based on NOTIS feeds. However, clients are advised that delays may occur, and any losses resulting from such delays will be borne by the client.
User Responsibility: Clients are responsible for the accuracy and validity of the square-off orders placed through the utility. It is the user's duty to stay informed about the trading system's downtime status and act accordingly using the utility.
Risk Acknowledgment: Users acknowledge that the utility operates in a time-sensitive environment and may be subject to technical and operational uncertainties.
Losses incurred due to market fluctuations or delays in trade updates or on account of pending orders placed in Trading platform getting executed during downtime are the responsibility of the user.
Terms Modification: These terms and conditions may be modified or updated at the discretion of Navia. Users are encouraged to review them regularly for any changes.
Service Interruption: Navia reserves the right to suspend or terminate the utility service temporarily or permanently for maintenance, security, or any other reasons.
By utilizing this utility, clients agree to adhere to these terms and conditions. The company’s Terms and conditions are applicable in addition to these terms and conditions of the Downtime utility. Navia retains the right to revise or amend these terms, and users are advised to stay informed about any updates. Kindly confirm to proceed further.
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