InvestorQ : What exactly are Good-Till-Day (GTD) orders in the stock market?
swati Bakhda made post

What exactly are Good-Till-Day (GTD) orders in the stock market?

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Abhi Yadav answered.
3 years ago
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Most orders that you place on the exchange is by default GTD orders. A GTD order is valid until the end of the trading day. When the trading for the day closes, the order is automatically canceled. GTD orders become relevant when either your market orders do not get executed due to poor liquidity or your Limit orders do not get executed due to unfavorable price. In both these cases, the GTD order will be held in the system until the end of the trading day.
There is also another kind of an order which is IOC (Immediate or Cancel) order where the order is executed only if it can execute the moment it is placed. Else, the order stands automatically canceled. This type of order is more popular among institutional investors and large proprietary traders. SEBI has stringent restrictions on such orders to avoid any cases of market manipulation.
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