Definition
Good Till Cancelled (GTC) Order
A Good Till Cancelled order remains active across multiple trading sessions until it is either executed or explicitly cancelled by the trader, rather than expiring at the end of the day.
GTC is common in many global markets but is not natively offered by Indian exchanges in the cash segment, where orders are typically day orders. To give investors persistence, Indian brokers offer GTT (good till triggered) features that hold an instruction on the broker's system and fire an order when a price condition is met.
Because a true exchange-level GTC does not exist here, the broker-managed GTT is the practical equivalent, usually with a maximum validity of about a year. Investors should understand that a GTT is not a resting exchange order until triggered, which affects fill behaviour in fast markets.
Related terms
- After-Market Order (AMO)An after-market order is an order placed outside regular trading hours that is queued by the broker and submitted to the exchange when the market next opens.
- Day OrderA day order is valid only for the trading session in which it is placed; if it is not executed by the close, it is automatically cancelled and does not carry over to the next day.
- Good Till Triggered (GTT) OrderA Good Till Triggered order is a broker-side instruction that holds a trade until a specified trigger price is reached, at which point an actual exchange order is placed, valid for an extended period such as a year.
- Stop-Loss OrderA stop-loss order becomes active and is sent to the market only when the price reaches a specified trigger level, used to limit losses or protect profits on an existing position.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.