open order

Open Order

An order to buy or sell a security that remains in effect until it is either canceled by the customer or executed.

Notes:

Open orders commonly occur when investors place price restrictions on their buy and sell transactions. As market orders are filled instantaneously, investors who enter limit orders will typically have to wait before the price that they set as their limit is reached. These orders will remain open either for the duration determined by the customer or until they are filled.

See also: Buy, Limit Order, Market Order, Open, Order, Security, Sell

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Open order (good-till-cancelled, GTC order)

Order to buy or sell a security that stays active until it is completed or the investor cancels it.

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open order

See good-till-canceled order (GTC).