Good 'Til Canceled - GTC

When a client places an order to buy or sell a security, they set limits around the order, either with a given price or a given minimum amount or something else. There must be a time axis placed on a good order as well, e.g., "this order is binding as long as you fill it by the end of the day, or the end of the month, or until I call you and cancel it."

It’s a way in which securities’ buy and sell orders are placed. Like: “I’ll buy up to 10,000 shares of Coke at $42 a share, and this order is GTC...i.e. it’s good, or effective, until I tell you otherwise.”

Could this order sit on the books of Schwab or Fidelity or another broker for 8 months before executing? Sure could...if it isn’t canceled. Then it’s effective, and it sits around waiting for that shoulder tap to finally get on the stock conveyor belt and get on gettin’ on...uh, being sold.

And...that’s it.

Just think: the TV show, Futurama. It was good…real good...until it was canceled. And now it exists only in the pasturama.