Zerodha Part 2

[cooljai]

Hey Murthy,

About notifying, it is a continuous process and because we are planning on a lot of new launches, you can safely assume there will be some work being done every weekend and is not practical/viable to share these details with our clients.

I was personally able to login using my plus id, what was the error you got while trying to login with your plus id??

Communicating to users about any outage is absolutely essential.
Why don't you have a page for outages on the website?
You do not have to tell us what exactly is being done, but just the times during which the tools will not be available.
Any stable, critical IT infrastructure should have separate Development/Test and production platforms.
And its generally the cardinal rule in IT, not to do any sort of R&D on the production platform.
Validate all your changes on the development and test beds and once found stable, replicate to production in as little time as possible, without or minimal user impact.
Same guys handling customer care, business development, IT management can end up in major disasters (may not be the case with ZD).
IT is a function which needs qualified hands with domain experience and Disaster recovery /Business continuity exposure.
I think you should also focus more on educating your existing IT manager or replace/ hire one if necessary.

 

[Subhadip]

http://www.traderji.com/brokers-trading-platforms/73585-zerodha-part-2-a-201.html#post748726


zerodha..any reply

 

[Subhadip]

http://www.traderji.com/brokers-trading-platforms/73585-zerodha-part-2-a-196.html#post747887

any reply

 

[murthyavr]

Hey Murthy,

About notifying, it is a continuous process and because we are planning on a lot of new launches, you can safely assume there will be some work being done every weekend and is not practical/viable to share these details with our clients.

I was personally able to login using my plus id, what was the error you got while trying to login with your plus id??

If you have decided there is no need to notify users about the offline periods,
and if it is left to the assumptions of the users, it speaks a lot about your
customer-service policy.

Users, be aware!

 

[Zerodha]

one more question.. I have account in F&O and at the time of opening my account I have given DP account of Sharekhan..

Question is.. can I buy through zerodha.....my equities...will that be transferred to my sharekhan DP..

also can I sell from zerodha ?

Hi Subhadip,

About Transaction charges, as I had mentioned most of the people who comment here are retail traders and not really brokers, so most of them are probably really good at trading but don't understand what goes behind running a broking business... Every broker has a different setup and a different deal with clearing member... As I had mentioned earlier, we are looking at a sustained rate on this for a longer run and don't want to reduce it and then have to increase it.. If you put yourself in our shoes as a business, you will understand that in the environment we work in if we reduce it and then have to increase it, this could turn out to be a blunder..This will go down but at a much slower rate...
What you all would appreciate is because of what we did, you all have a lot of options, new brokers who are focusing more on customer support and reduced brokerages...Our focus is presently on giving you all an edge in terms of technology rather than anything else... Today, many brokers are moving ahead with NOW and as and when their loads increase, it is but natural that the performance would come down as it is free trading platform offered by NSE and eventually everything on NOW will go paid... It was imperative for us to have our own technology before this happened and which we have succeeded in.. We are launching our new platform called i3 for high volume traders, it is not even funny on how much impact cost could be saved by using the execution based algo's in illiquid market like ours( if there are people here who trade contracts other than nifty, even small orders can cause a big dent because of impact costs and all those who buy over 80 lots of nifty at a time probably loose much more( atleast 30 times more) on impact costs rather than our brokerage or txn charges), our html platform, Zerodha Connect to offer better customer support..
So yes, transaction charges are relatively high and will come down over time...

About your question on DP, yes when you buy stocks, it will hit your demat account with Sharekhan, but you will not be able to sell through us and will have to use Sharekhan for the same..

Cheers..

 

[Zerodha]

Communicating to users about any outage is absolutely essential.
Why don't you have a page for outages on the website?
You do not have to tell us what exactly is being done, but just the times during which the tools will not be available.
Any stable, critical IT infrastructure should have separate Development/Test and production platforms.
And its generally the cardinal rule in IT, not to do any sort of R&D on the production platform.
Validate all your changes on the development and test beds and once found stable, replicate to production in as little time as possible, without or minimal user impact.
Same guys handling customer care, business development, IT management can end up in major disasters (may not be the case with ZD).
IT is a function which needs qualified hands with domain experience and Disaster recovery /Business continuity exposure.
I think you should also focus more on educating your existing IT manager or replace/ hire one if necessary.

Jai and Murthy,

Firstly, we always try to focus on our core strength and let the experts do their job... All our servers are collocated at the best place in the country and is managed by the people who have designed the platform itself.. I guess these are the most qualified people to manage our IT infra...

The 1 hour on tuesday with login problems was the only serious issue from the time we have gone live on ZT and it was important for us to fix it over the weekend.. Reboot servers and fix the issue which caused the problem..

We definitely have test servers on which we work before taking anything live, some of our clients have been testing the HTML5 for us on test servers and we delayed the launch because one of our clients spotted an issue..

The reason the autologin didn't happen to NEST plus was because when the servers are rebooted certain settings change and this was the first time we had to reboot servers.. Over the weekend we were testing on trading related issues and didn't realize that the auto login for NEST plus got disabled.. It took us around an hour to fix it monday morning, but as I said earlier it was working if someone manually logged in..

@murthy, We are launching a bulletin board on Zerodha Connect, where we will update everything happening at Zerodha live.. We should have the bulletin board section up next week.. You will probably even get to know when anyone of is lying down with a viral.. ..

Happy Trading guys,
Peace..

 

[timepass]

Hey Murthy,

About notifying, it is a continuous process and because we are planning on a lot of new launches, you can safely assume there will be some work being done every weekend and is not practical/viable to share these details with our clients.

I was personally able to login using my plus id, what was the error you got while trying to login with your plus id??

Hello Zerodha, a lot of customers may want to access the software on the weekends for various reasons. I suggest that you set up a fixed schedule (downtime from xxxxx hours on yyyy date to aaaa hours on zzzz date). I think that a few hours per week over the weekend would be enough for routine check-up + tweaking. Only the major overhaul will need a longer time period.

During the downtime, the software could display a message to the users trying to log in "We are down for routine maintenance up to aaaa hours. Sorry for the inconvenience".

Also, every day, it will be nice if some of your guys could check the status of the software at 8.30 am or so.

The major grouse is the system being down at the very beginning of the session. This is very off-putting, whether the down time is for 1 min or an hour.

 

[Subhadip]

Hi Subhadip,

About Transaction charges, as I had mentioned most of the people who comment here are retail traders and not really brokers, so most of them are probably really good at trading but don't understand what goes behind running a broking business... Every broker has a different setup and a different deal with clearing member... As I had mentioned earlier, we are looking at a sustained rate on this for a longer run and don't want to reduce it and then have to increase it.. If you put yourself in our shoes as a business, you will understand that in the environment we work in if we reduce it and then have to increase it, this could turn out to be a blunder..This will go down but at a much slower rate...
What you all would appreciate is because of what we did, you all have a lot of options, new brokers who are focusing more on customer support and reduced brokerages...Our focus is presently on giving you all an edge in terms of technology rather than anything else... Today, many brokers are moving ahead with NOW and as and when their loads increase, it is but natural that the performance would come down as it is free trading platform offered by NSE and eventually everything on NOW will go paid... It was imperative for us to have our own technology before this happened and which we have succeeded in.. We are launching our new platform called i3 for high volume traders, it is not even funny on how much impact cost could be saved by using the execution based algo's in illiquid market like ours( if there are people here who trade contracts other than nifty, even small orders can cause a big dent because of impact costs and all those who buy over 80 lots of nifty at a time probably loose much more( atleast 30 times more) on impact costs rather than our brokerage or txn charges), our html platform, Zerodha Connect to offer better customer support..
So yes, transaction charges are relatively high and will come down over time...

About your question on DP, yes when you buy stocks, it will hit your demat account with Sharekhan, but you will not be able to sell through us and will have to use Sharekhan for the same..

Cheers..

A big thank you..

:clapping:

 

[Punter786]

Zerodha/Sachin/Members,

Please help. I am getting "request failure" error when I try to see my holdings/collateral or RMS cash credit - perhaps getting this error in other section also. It is displaying nothing in my holding with that error and my credit as zero with that error. Though I've shares and credit both. I am using ZT for 3 months, but this is the first I am getting this error.

What should I do?

 

[sansarva]

Hi Subhadip,

About Transaction charges, as I had mentioned most of the people who comment here are retail traders and not really brokers,


Cheers..

attempt at deciphering for retail traders what high transaction charges at Zerodha mean

It is not just transaction and the clearing charges that zerodha pay to NSE and IFFL but includes development charges for their capital infusion for software development. Hence it is high

It is also high since to engage best of the software companies to develop/manage costs more

also don't compare the transaction charges with other broker who is not a clearing member as they depend on free software (NOW) and are not investing on software development. what they charge is just what they pay others, unlike us.

their earnings/ profit is still the Rs 20 brokerage.

once their capacity building/ software development are done, then they may reduce the transaction charges to what they actually pay.

There message is 'happy stick with us or go where you find comfortable, as we have no scope for reduction at present.'