Open Order

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.

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Open 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, open orders generally expire 30 to 60 days after they are made if they have not been filled, unless the investor reiterates them. An open order is also known as a good 'til canceled order.

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Open order. An order that remains on the books until it is either executed or canceled is known as an open order, or a good til canceled order (GTC).