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What do Day, GTC, IOC, GTD, FOK and ETH mean on the order ticket?

Those are TIF (time and force) instructions that establish how long an order should be active.

Day:  A day order expires at the end of the trading session if it has not been executed.

Unfilled day orders are automatically canceled.

IOC:  An immediate-or-cancel (IOC) order executes immediately, allowing partial fills.

Any unfilled portion of the order is canceled.

GTD:  Is an order that remains open until a defined date in the future.

FOK:  A fill-or-kill (FOK) order must be executed immediately in its entirety or canceled.

       FOK orders:

  • Do not allow partial fills
  • May be difficult to execute in less liquid markets

 ETH:  Extended Trading Hours designation allows the order to participate in pre-market and/or after-hours trading sessions.

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