- Sep
- 20
- 2006
- 6:18 AM
Whither GTC orders?
- By: Ray Pellecchia
- File Under: NYSE, NYSE
A reader writes:
With Phase lll, Stop Limit orders will be eliminated. What will happen with the existing GTC orders?
-- Mike Cherry
Mike -- I relayed to a Hybrid-Building Colleague your question about Good 'Til Cancelled orders. She responds:
"If he means stop-limit GTC orders, they will be cancelled by the system the morning of the effective date of the ban. If he means GTC limit orders, there is no change."
Hope that helps. Thanks for writing.
Note: Mike's question follows the recent post, Stopping stop-limit orders, if you want to read the background.
[New York Stock Exchange, Hybrid Market, NYSE, NYX,
limit order, stop order, GTC
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