Good till cancelled order

Similar financial terms

Goodwill
The value of a business to a purchaser over and above its net asset value. It reflects the value of intangible assets like:

• reputation
• brand name
• good customer relations
• high employee morale
• other factors which improve the company's business.

Goodwill is normally given a value in a company's balance sheet, but is depreciated over a period of time.

Open (good-til-cancelled) order
An individual investor can place an order to buy or sell a security. That open order stays active until it is completed or the investor cancels it.

Goodwill impairment
An asset reported mainly as goodwill on the balance sheet may be worth much less than the value reported. In this case the good will is impaired and the company will likely have to take a write-down on this asset. This often happens when intellectual property such as software is acquired and a premium price is paid for it. Subsequently, if the software is not commercialized, the goodwill associated with it must be reduced - often to zero.

Public goods (collective goods)
These are a distinctive class of goods which cannot practically be withheld from one consumer without withholding them from all (the "nonexcludability criterion") and for which the marginal cost of an additional person consuming them, once they have been produced, is zero (the "nonrivalrous consumption" criterion).

The classic example of a nearly pure public good is national defense: you cannot defend the vulnerable border regions of a country from the ravages of foreign invaders witho ...

Giffen good
An increase in income results in a fall in demand for the good. A Giffen good is an extreme form of inferior good. It arises because the income effect is opposite to and outweighs the substitution effect.

Goodhart Law
The Goodhart Law is a law developed by Professor Charles Goodhart (who has also served as a member of the Monetary Policy Committee) that says "that any observed statistical regularity will tend to collapse once pressure is placed on it for control purposes". In other words if a relationship between two variables is observed, and the government then try to use this relationship as a policy tool, the whole relationship is likely to break down.

Good This Week Order (GTW)
Order which is valid only for the week in which it is placed.

Standstill agreements
Contracts where the bidding firm in a takeover attempt agrees to limit its holdings another firm.

Principal Orders
Principal orders refers to hte activity by a broker or dealer who buys or sells for his or her own account and risk.

Limit Order
An order that can be executed only at a specified price or one more favorable to the investor.

Day Order
A buy or sell order that will expire automatically at the end of the trading day on which it is entered.

One Cancels the Other Order (OCO)
A combination of two orders in which the execution of either one automatically cancels the other.

Stop-limit order
A stop order that designates a price limit. In contrast to the stop order, which becomes a market order once the stop is reached, the stop-limit order becomes a limit order once the stop is reached.

Stop order (or stop)
An order to buy or sell at the market when a definite price is reached, either above (on a buy) or below (on a sell) the price that prevailed when the order was given.

Stop-loss order
An order to sell a stock when the price falls to a specified level.

Sell limit order
Conditional trading order that indicates that a security may be sold at the designated price or higher.

Pecking-order view (of capital structure)
The argument that external financing transaction costs, especially those associated with the problem of adverse selection, create a dynamic environment in which firms have a preference, or pecking-order of preferred sources of financing, when all else is equal. Internally generated funds are the most preferred, new debt is next, debt-equity hybrids are next, and new equity is the least preferred source.

Negotiable order of withdrawal (NOW)
Demand deposits that pay interest.

Market order
This is an order to immediately buy or sell a security at the current trading price.

Limit order book
A record of unexecuted limit orders that is maintained by the specialist. These orders are treated equally with other orders in terms of priority of execution.

Buy limit order
A conditional trading order that indicates a security may be purchased only at the designated price or lower.

Cross-border risk
Refers to the volatility of returns on international investments caused by events associated with a particular country as opposed to events associated solely with a particular economic or financial agent.

Order
Instruction to a broker/dealer to buy, sell, deliver, or receive securities or commodities that commits the issuer of the "order" to the terms specified.

Fill-or-kill order (FOK)
A trading order that is canceled unless executed within a designated time period. A market or limited price order that is to be executed in its entirety as soon as it is represented in the trading crowd, and, if not so executed, is to be treated as canceled. For purposes of this definition, a stop is considered an execution.

At the opening order
In context of general equities, market order or limited price order that is to be executed at the opening (and corresponding price) of the stock or not at all, and any such order or portion thereof not so executed is to be treated as cancelled.

Day around order
A day order that supersedes (cancels and replaces) the previous order by altering its size or price limit.

Stop Limit Order
A stop limit order is an order that goes into force as soon as there is a trade at the specified price. The order, however, can only be filled at the stop limit price or better.