Buy Today Sell Tomorrow® (BTST®)


What is Buy Today Sell Tomorrow® (BTST®) ?

Buy Today Sell Tomorrow® (BTST®) is a facility offered by ICICIDirect wherein the customer will be able to sell the shares that he has purchased even before he receives the delivery of the shares from the Exchange. He will not have to wait till the time he receives the delivery from the Exchange thus increasing his liquidity.

How does the customer place an order in BTST® ?

The customer can place an order in BTST® by going to the Security Projections page and clicking on the BTST® Sell Hyperlink. The rest of the details which are required to be filled up are similar to that of a normal sell order.

What are the maximum number of shares that the customer can sell under BTST® ?

You can see the maximum number of shares which can be sold under BTST® under the column Maximum Quantity Permitted against the corresponding settlement number. This is being calculated by ICICIDirect after considering your buy position in the corresponding settlement and also on ICICIDirect's internal risk profile of that particular stock.

On the placement of a BTST® order, the order quantity is added to the existing blocked quantity, if any, and is shown as the blocked quantity in the security projections. The Available quantity now gets reduced by the blocked quantity. The customer can then place further BTST® order/normal sell order for the available quantity.

Can BTST® facility be used even when the current settlement is going on ?

BTST® facility can be used only in case the settlement in which the shares have been purchased is over.

How many scripts are available for BTST® ?

Currently all S&P CNX NIFTY and CNX NIFTY JUNIOR scrips are available in BTST®. ICICIdirect can at its sole discretion add scrips or delete scrips to this existing list of scrips for which BTST® would be permitted.

What will happen in case the delivery for shares sold by the customer is not received from the exchange ?

BTST® is a facility whereby the customers are being allowed to sell their shares against their receivable position in the same shares from the same Exchange. However, in case there is a short delivery from the Exchange for the earlier buy transaction, then the BTST® customers will also be giving short delivery for their sell transaction. The Exchange would either give delivery of shares bought earlier through market auction or shall closeout the buy transactions as per the Exchange Regulations. However, this would not help the customer in meeting his sale delivery obligations already committed by him as even if he receives the shares bought earlier through auction settlement, by that time the securities pay-in date for his sell transaction would be over. In such case, the customer will have to face auction proceedings against his sale transaction and will have to bear the auction losses, auction penalties and any other incidental charges etc.

Exchange does not net off subsequent sell transaction against the previous buy transaction across the settlements and all the settlement obligations are settled settlement wise.

All cost and consequences of any auction arising out of such BTST® sell transactions shall be fully borne by the Customer and ICICIdirect would not be held responsible for any such short delivery received by the customer and the consequential impact thereof.

In case of short delivery, ICICIDirect will reduce the limits of the customer to the extent of the likely auction amount. On receiving the actual auction amount from the Exchange the limits will be adjusted to reflect the same and the auction amount will be recovered from the customer.

Can Non Resident Indians (NRIs) opt for BTST®?

No. NRIs are not permitted to opt for BTST®.

What would be the brokerage applicable ?

The brokerage rates will be the same as that are applicable for cash trades.

Whether the shares will get credited in my demat account?

In case the customer sells shares under BTST® facility, the securities bought by the customer in one settlement will be retained either partly or fully by ICICIDirect in its demat account for the purpose of meeting the pay in obligation of the customer towards the securities sold by the customer in the subsequent settlement(s).

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