InvestorQ : What is meant by GTC orders and GTD orders?
vaishnavi mhatre made post

What is meant by GTC orders and GTD orders?

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Angel dcosta answered.
2 years ago
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A Good Till Cancelled (GTC) order is an order that remains in the system until it is canceled by the Trading Member. It will, therefore, be able to span trading days if it does not get matched. The maximum number of days a GTC order can remain in the system is notified by the Exchange from time to time. When this time elapses, then the order is automatically canceled by the system and the client is intimated about the same. Subsequently, the client has again got to input the order into the system.
A Good Till Days/Date (GTD) order allows the Trading Member to specify the days/date up to which the order should stay in the system. At the end of this period, the order will get flushed from the system. Each day/date counted is a calendar day and inclusive of holidays. The days/date counted are inclusive of the day/date on which the order is placed. The maximum number of days a GTD order can remain in the system is notified by the Exchange from time to time. Here again, your order is terminated on the GTD date or the exchange specified an outer limit date; whichever is earlier.
Note: Currently, GTC and GTD orders are not available on the system as per SEBI directives.
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