TP/SL- Terms and Conditions

These TP/SL Terms and Conditions(“T&C”) apply to your use of the Take Profit/Stop Loss feature (“TP/SL”) on the Platform. By placing an order that uses the TP/SL feature through the Platform, You agree to be bound by these T&Cs, master Terms of Use, Privacy Policy, and all other applicable policies of the Platform. These T&Cs are in addition to all existing terms and conditions with NU. If these T&Cs conflict with your other T&Cs, these T&Cs govern only your use of the TP/SL feature.

1. Definitions

1.1. Good-Till-Triggered Order (“GTT”): A non-executed instruction that stays active on the for an extended period until the market price hits a specified level, at which point it is automatically sent to the exchange for execution.
1.2. One-Cancels-Other (“OCO”): A condition where two orders (in this case, a TP and an SL) are linked together. If one order is triggered and executed, the other linked order is automatically canceled.
1.3. Parent Order: The initial buy or sell order, existing open position to which the TP/SL orders are linked.
1.4. Stop Loss Order (“SL”): An order placed to exit a position at a predefined price typically lower than the current market price.
1.5. Take Profit Order (“TP”): An order placed to exit a position at a predefined target price.
1.6. Trailing Stop Loss (“TSL”): An SL order that automatically adjusts its price based on market price movements, as defined by the user.

2. What is the TP/SL feature?

2.1. The TP/SL allows users to place either a TP, an SL, or both linked to a new order or an existing holding.
2.2. These orders are sent to the exchange as GTT orders once the predefined trigger price is met.
2.3. If a user places both a TP and an SL order for the same position, they will operate on an OCO basis. The execution of one order will automatically initiate the cancellation of the other.

3. Order Placement and Execution

3.1. Users can set TP/SL orders either:
– At the time of placing a new parent order.
– For an existing open position from the ‘Positions’ tab.
– For an existing holding from the ‘Holdings’ tab.
3.2. Validity: TP/SL orders will remain as a GTT order from the date of creation until one (1) year, unless triggered, executed, or canceled earlier. TP/SL orders placed for an ‘Intraday’ product type will be valid only for the same trading day and canceled automatically at the end of the day if not triggered.

4. Modification and Cancellation

4.1. Users can modify or cancel their active and untriggered TP/SL orders at any time from the ‘Orders’, ‘Positions’, or ‘Holdings’ tabs.
4.2. In case of a corporate action (e.g., split, bonus, dividend) for the underlying security,Communication will be sent to the Client regarding the corporate action. However, the user has to manually manage his TP/SL orders from the Platform.

5. Non-execution

5.1. NU does not guarantee the trigger, execution, modification, or cancellation of any TP/SL order. NU shall not be liable for any opportunity loss or any other losses arising from any non-execution, non-triggering, or non-cancellation of any order.

6. User responsibilities and Liabilities

6.1. NU is not liable for any losses arising from non-execution, order rejection, market fluctuations, or the user’s failure to cancel pending orders.
6.2. NU reserves the right to modify, update, or discontinue the TP/SL feature at any time without advance notice.

7. Other Terms

7.1. NU reserves the right to change or modify these T&Cs at any time. Your acceptance of the amended T&Cs or continued usage of the TP/SL feature will signify Your consent to the changes and agreement to be bound by the same.