Good 'til cancelled order

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Good 'til cancelled order (GTC)

An order to buy or sell stock that is good until the client executes or cancels it. Brokerages usually set a limit of 30-60 days, at which the G.T.C. order expires if not restated. (Different from a day order.)

Good 'Til Cancelled Order

An order to a broker to buy or sell a security at a certain price whenever that price becomes available. Theoretically, such an order is standing indefinitely until either the security is bought or sold at the specified price or the investor cancels the order. In practice, GTCs generally expire 30-60 days after they are made if they have not been filled, unless the investor reiterates them. A GTC is also known as an open order.
References in periodicals archive ?
Many brokerages cancel GTC orders after a month or two, though.
Order Management - The platform will support reserve quantities on stop and good-till-canceled (GTC) orders as well as GTC orders on inter-product spreads, expanding order types and providing traders with greater flexibility.
For example, ETF Liquid provides liquidity in an agency capacity in off-market hours to fill "away" limit orders that may be left as GTC orders, and filled during closed US hours when the underlying ETF basket can be priced efficiently to reflect market conditions, and may move into line.