good-till-canceled order (GTC)

good-till-canceled order (GTC) definition - business

good-till-canceled order (GTC)

An order either to buy or to sell a security that remains in effect until it is canceled by the customer or until it is executed by the broker. In practice, most brokerage firms impose a time limit on unexecuted orders. Also called open order.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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