Trading

What is order validity (GFD/IOC/MYGTD)? How does it work?

Order validity is a time-based condition of an order. It defines until when the order should remain in the Pending status. We provide three types of validities:

  • GFD: Good For Day. It has a validity of 1 trading day. If the order doesn't get executed during the day, it will get expired by the end of the trading session and a new order has to be placed on the next trading day.
  • IOC: Immediate Or Cancel. If the price mentioned is available in the market, the order will get executed. If the price mentioned is not available in the market, the order will get cancelled immediately.
  • MYGTD: My Good Till Date. Order validity can be extended up to 180 days. At the end of every trading day, the order gets expired by the system and a fresh order is placed on the next trading day, until the order gets executed. If the order doesn't get executed by the selected date, it gets expired permanently.
     
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related faq’s

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