T2T on WebNotes

Why market orders are blocked on T2T and debt instruments on Kite

Sun, 21 Jun 2026 00:00:00 +0000

Market orders are blocked on trade-to-trade (T2T) stocks and on debt-category instruments, including Sovereign Gold Bonds , on Kite ; only limit orders are accepted. The reason is liquidity. These instruments trade in low volume, so a market order , which fills at the best available price regardless of level, can execute far from the last traded price. On a thin order book a market order can fill a small quantity at a sensible price and the rest at a punishing one, committing a trader to a far larger or smaller cash amount than intended with no chance to react. Requiring a limit order forces the trader to set a price ceiling or floor, which is the protection these instruments need.

Why you cannot buy a stock on Kite even though it is trading on the exchange

Sun, 21 Jun 2026 00:00:00 +0000

A stock can trade on the National Stock Exchange or the Bombay Stock Exchange yet be unbuyable on Kite because the block is imposed at a layer above the exchange’s trading status: a series mismatch the exchange itself rejects, a surveillance buy-block that Zerodha applies because it does not collect the additional surveillance deposit, a trade-to-trade or graded-surveillance restriction, or an illiquid scrip Zerodha has chosen not to offer for fresh buying. The stock printing a live last traded price tells you only that the exchange is matching trades in it, not that your broker permits you to add a fresh position.

T2T (Trade-to-Trade) stocks on Zerodha

Wed, 20 May 2026 00:00:00 +0000

T2T (Trade-to-Trade) stocks on NSE / BSE require every trade to result in delivery. Intraday MIS is not allowed. For the detailed framework, see Trade-to-Trade segment rules .

On Zerodha specifically

Order ticket: MIS orders rejected; only CNC accepted.
Settlement: T+1 via delivery.
Notification: Surveillance tag in marketwatch.

Common T2T triggers

LT-ASM Stage 2+.
GSM Stage 4+.
Specific exchange action.

External references

References

NSE India, T2T framework, nseindia.com.
SEBI, Settlement framework, sebi.gov.in.

Trade-to-Trade segment rules

Wed, 20 May 2026 00:00:00 +0000

The Trade-to-Trade (T2T) segment is a settlement framework where every trade must result in delivery; no intraday squareoff is permitted, no inter-day netting. T2T is used as a surveillance restriction on scrips with elevated speculative activity or governance concerns.

How T2T works

Normal segment: Trades match continuously during the day; intraday positions can be opened and closed within the session (MIS). Inter-day positions are netted before delivery.

T2T segment: Each buy is treated as a separate trade requiring delivery; each sell requires delivery from the seller’s demat. No squareoff is possible.