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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Good 'til canceled (GTC).

If you want to buy or sell a security at a specific price, you can ask your broker to issue a good 'til canceled (GTC) order. When the security reaches the price you've indicated, the trade will be executed.

This order stays in effect until it is filled, you cancel it, or the brokerage firm's time limit on GTC orders expires.

A GTC, also called an open order, is the opposite of a day order, which is automatically canceled at the end of the trading day if it isn't filled.

In addition, some firms offer good through month (GTM) or good through week (GTW) orders.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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