GTC also known as “good till cancelled” implies that the order remains active unless it is cancelled or its trade gets completed. This type of order is always requested by the investors, the reason being it can be prepared well in advance and parties to it are not required to alter or set it up every day.
The order was stopped by New York Stock Exchange and NASDAQ in 2016, owing to the risks associated with it. The authorities believe that investors should be aware of the risk especially in such highly volatile market conditions. Still in rest of the market one can place GTC and GTC stop orders, but they are strictly banned in NYSE and NASDAQ.
GTC Order definition and all about it
GTC works by following steps mentioned below;
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