Open (good-til-cancelled) order

Similar financial terms

Reopen an issue
The Treasury, when it wants to sell additional securities, will occasionally sell more of an existing issue (reopen it) rather than offer a new issue.

Opening sale
A transaction in which the seller's intention is to create or increase a short position in a given series of options.

Opening purchase
A transaction in which the purchaser's intention is to create or increase a long position in a given series of options.

Opening price
The range of prices at which the first bids and offers were made or first transactions were completed.

Opening, the
The period at the beginning of the trading session officially designated by the exchange during which all transactions are considered made "at the opening".

Open outcry
The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders.

Open-market purchase operation
A systematic program of repurchasing shares of stock in market transactions at current market prices, in competition with other prospective investors.

Open-market operation
Purchase or sale of government securities by the monetary authorities to increase or decrease the domestic money supply.

Open-end mortgage
Mortgage against which additional debts may be issued.

Open-end fund
Also called a mutual fund, an investment company that stands ready to sell new shares to the public and to redeem its outstanding shares on demand at a price equal to an appropriate share of the value of its portfolio, which is computed daily at the close of the market.

Open repo
A repo with no definite term. The agreement is made on a day-to-day basis and either the borrower or the lender may choose to terminate. The rate paid is higher than on overnight repo and is subject to adjustment if rates move.

Open position
A net long or short position whose value will change with a change in prices.

Open interest
The total number of derivative contracts traded that not yet been liquidated either by an offsetting derivative transaction or by delivery.

Open contracts
Contracts which have been bought or sold without the transaction having been completed by subsequent sale or purchase, or by making or taking actual delivery of the financial instrument or physical commodity.

Open account
Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.

Open market purchase
An order placed by an insider, after all appropriate documentation has been filed, to buy restricted securities openly on an exchange.

Buy on opening
To buy at the beginning of a trading session at a price within the opening range.

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.

Open Outcry
Method of public auction required to make bids and offers in the trading pits or rings of commodity exchanges.

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.

Good till cancelled order
A good till cancelled order (GTC) is an order to a broker instructing him to buy or sell shares at a specified price which remains valid until cancelled by the client or by execution.

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.

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.

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