Time in Force for Orders
The time in force for an order defines the length of time over which an order will continue working before it is canceled. We support the following time in force options:
DAY - A Day order is canceled if it does not execute by the close of the trading day. Unless otherwise specified, every order is a Day order.
GTC - A Good-Til-Canceled order will continue to work within the system and in the marketplace until it executes or is canceled by the customer. Customers who trade U.S. equities may use GTC for Limit, Stop, and Stop-Limit orders.
Note that GTC orders will also automatically be cancelled under the following conditions:
if any type of corporate action is taken on a security
if you do not log in to your account for 90 days
OPG - Use OPG to send a market-on-open (MOO) or limit-on-open (LOO) order.
GTD - A Good-Til-Date order will remain working within the system and in the marketplace until it executes or until the close of the market on the date specified. When you select GTD as the time in force, both an Exp. Date and Exp. Time field is displayed on the order management line. Enter the date up until which you want the order to continue to work in the format YYYYMMDD. To set a time, enter the time in the format HH:MM(:SS). If desired, enter a time zone using an accepted three-letter acronym. Note that if you do not enter a specific time zone, the time zone to which your computer is set will be used.
IOC - Any portion of an Immediate-or-Cancel order that is not filled as soon as it becomes available in the market is canceled. IOC is valid for market or limit orders.
NOTE: For market centers that do not accept "native" GTC orders, the order type is simulated by resubmitting the relevant order each business day upon opening of the market center. For a list of market centers that both do and do not accept GTC orders, see the Order Types page.
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