Order execution time refers to the specific time when a trade is executed at the exchange and it is always within the market hours. For instance, if a client places an order at 1:30 PM and it is promptly executed, the broker receives confirmation from the exchange at the same time and displays the execution time accordingly on the trading platform.

However, the order execution time could be displayed beyond market hours if there’s a disconnection between the broker and the exchange due to connectivity issues. In such a scenario, the trading platform displays orders placed during this period as OPEN PENDING, CANCEL PENDING or MODIFY PENDING.

To resolve this, the broker performs an exchange reconciliation process when the broker reconnects with the exchange. This process involves the broker retrieving data from the exchange and matching it with the pending orders placed during the period of disconnection. The order execution time is then displayed as the time when the broker conducted the reconciliation and not the actual time when the order was executed or rejected.

Example Scenario

1. If a client placed an order at 1:30 PM and the broker experiences a disconnection with the exchange, resulting in a lack of confirmation, the order will be displayed as OPEN PENDING.
   
2. If the broker performs reconciliation at 4:00 PM, the order execution time would be shown as 4:00 PM on the trading platform, regardless of the order being placed during market hours.
   
3. Clients have the option to check the actual order execution time on their tradebook on Kite on the same day. The tradebook can also be downloaded from Console the following day. To learn more, see Where can the trades that are taken for a particular period be seen?

Did you know? The reconciliation is done outside of regular market hours because conducting it during market hours may result in some orders not going through.