Market Pulse
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CTCL

Computer-to-Computer Link is the connectivity framework brokers use to route electronic orders to the exchange.

CTCL setups connect trading terminals and vendor systems to NSE or BSE matching engines.

Brokers must follow exchange guidelines on user IDs, audit trails, and risk controls.

Algo and DMA flows still sit inside regulated CTCL or approved connectivity arrangements.

Outages or misconfigurations in CTCL links can halt a broker’s order routing.

Part of the Market Pulse Term of the Day series — factual market vocabulary, not investment advice.