Latest news with #KiteBackup
News18
2 days ago
- Business
- News18
Zerodha Unveils WhatsApp-Based Kite Backup For Emergency Trading: How To Use It
Zerodha launched Kite Backup, a WhatsApp-based system for traders to manage positions if Kite's main platforms fail. Zerodha WhatsApp-Based Kite Backup: India's largest stockbroker Zerodha has launched Kite Backup, a WhatsApp-based emergency system that allows traders to square off open positions and cancel pending orders if its primary platforms – Kite web and mobile – ever go down during market hours. Trading platforms are highly complex, with multiple systems linked to exchanges, data centres, and cloud providers. Despite several layers of redundancy, a rare technical glitch at any point can disrupt trading. To provide an additional safety net, Zerodha has created this fully independent backup channel. Unlike the regular Kite systems that run on Amazon AWS and are protected by Cloudflare, the new WhatsApp-based setup is hosted on Microsoft Azure and connects directly to multiple order management systems (OMS) in physical data centres. It does not rely on Kite's primary infrastructure, ensuring that even if AWS or Cloudflare face outages, users can still exit positions. Limitations The Kite Backup system over WhatsApp is designed to be a last resort in case all primary trading platforms become unavailable. It is NOT designed to be a trading or investment platform. The WhatsApp Flow offers only a rudimentary interface that permits very few interactions. You can view holdings, margins, open orders and positions. Open orders and positions can be squared off. New orders or any other advanced features are not available. The backup system offers redundancy over Kite's trading systems and infrastructure, such as Amazon AWS and Cloudflare, which Kite depends on. However, it does not offer redundancy over the core OMS (Order Management Systems) located in physical data centres. OMS systems have different redundancy measures. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
3 days ago
- Business
- Mint
Zerodha's Nithin Kamath launches Kite Backup for trading: What it is, how to use the service — 10 things to know
Zerodha founder and CEO Nithin Kamath on August 14 announced a new emergency trading model for the company's trading platform Kite. The billionaire start-up founder noted that this move comes as 'trading platforms are ridiculously complex'. 'One hiccup anywhere from exchange connections to cloud servers can create an issue. Over the years, we've built tons of safeguards and redundancies, but we're still paranoid,' he noted. The new model uses WhatsApp and in case of a disaster scenario, where the Kite web and app both become inaccessible during market hours, aims to allow customers to cancel orders and exit positions. Kamath shared a video,outlining the same. In the video shared by Nithin Kamath, the company announced the features of Kite Backup, which it has called 'an additional safeguard' for clients. Kite Backup is completely independent infrastructure that customers can use to manage existing orders through WhatsApp. According to Nithin Kamath, 'We've built a new emergency trading mode using WhatsApp. In case of a disaster scenario, which we hope never happens, and the Kite web and mobile both become inaccessible during market hours, this backup mode will allow you to cancel orders and exit positions. It runs on a completely separate infrastructure and is designed to be independent of Kite.' How does the existing Kite infrastructure (app and website) function? According to the company, you can you place an order on Kite web or app and go through the Cloudflare security screening, then to Kite's AWS cloud servers, and then to the physical backend servers that connect directly to the stock exchange. The system has three availability zones, backup regions and multiple connection paths to maintain high availability. According to the company, you can you place an order on Kite web or app and go through the Cloudflare security screening, then to Kite's AWS cloud servers, and then to the physical backend servers that connect directly to the stock exchange. The system has three availability zones, backup regions and multiple connection paths to maintain high availability. How is Kite Backup different? For one, its built on Microsoft Azure cloud infrastructure, with no shared components, no shared AWS, and no shared Cloudflare with Kite. It also uses WhatsApp as the interface, which has its own infrastructure completely independent of Zerodha's trading systems. For one, its built on Microsoft Azure cloud infrastructure, with no shared components, no shared AWS, and no shared Cloudflare with Kite. It also uses WhatsApp as the interface, which has its own infrastructure completely independent of Zerodha's trading systems. How does this secure customers? The video outlined a scenario where you short naked puts and the markets begin tumbling, but just then Cloudflare has a hitch making Kite inaccessible. This is where Kite Backup through WhatsApp can be used to manage your existing positions. The video outlined a scenario where you short naked puts and the markets begin tumbling, but just then Cloudflare has a hitch making Kite inaccessible. This is where Kite Backup through WhatsApp can be used to manage your existing positions. What are the functions that can be conducted through Kite Backup on WhatsApp? You can view and square-off your open positions, cancel pending orders and check your holdings and margins. You cannot place new orders, but can manage your existing trades. You can view and square-off your open positions, cancel pending orders and check your holdings and margins. You cannot place new orders, but can manage your existing trades. How to set-up Kite Backup? There are four simple steps according to the company, as follows: Save this number to your contacts +919964452020, Open WhatsApp and send any message to this number, e.g. Hi, Provide your kite user ID and PAN number when prompted, and lastly Enter the SMS OTP you receive to complete the setup process. How to use Kite backup? Once you logged in, you see four main options. Here, open positions lets you view and square of your trades. Open orders, shows spending orders, that you can cancel. Holdings displays your portfolio for reference. And margins show you your available funds. Once you logged in, you see four main options. Here, open positions lets you view and square of your trades. Open orders, shows spending orders, that you can cancel. Holdings displays your portfolio for reference. And margins show you your available funds. When can I use Kite backup? According to the company, it runs continuously regardless of whether Kite is working normally. You can use it anytime as an alternative interface. According to the company, it runs continuously regardless of whether Kite is working normally. You can use it anytime as an alternative interface. Does the service have downtime? There is an important limitation, the company warned. If the backed servers are down this WhatsApp option won't work, as Kite backup only replaces Kite's front-end. Both systems ultimately connect to the same physical backend infra that communicate with the exchange.
