Trading & MarketsQuestion 96 of 125
A good-till-canceled (GTC) order:
a.Expires at the end of the trading day if unfilled
b.Must be executed within one hour
c.Can never be canceled
d.Remains active until it is executed or the customer cancels it, subject to firm and exchange time limits
Explanation
A GTC (open) order stays in effect until it is executed or canceled, rather than expiring at the day's close like a day order. Firms and exchanges may impose periodic expiration or confirmation requirements, so GTC orders are typically reviewed or refreshed periodically.
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