Series 66: Time Orders

Taken from our Series 66 Online Guide

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Time Orders

The following orders are triggered according to the time that the order is intended for execution:

• Good For Day (GFD) or day order—An order that is good only from the time it is placed until the ending of the trading session of the exchange it trades on.
• Good-’Til-Cancelled (GTC) order—An order that persists until someone cancels it. Some broker-dealers put a limit on how long they will hold a GTC order (for example, 90 days). These orders can last up to one year on the NASDAQ

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