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Related to Open order: Day order
Open order (good-till-cancelled, GTC order)
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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.
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).
Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.