UK Accounting Glossary
A good til cancelled order is an order to buy or sell a security that remains in effect until the good til cancelled order is either executed by a broker or cancelled. A good til cancelled order is not necessarily perpetual (some plans do offer this option, though); brokers usually set a limit of 30, 60, or 120 days, after which they will cancel it or notify the customer about reactivating it. Whether a broker can cancel a good til cancelled order depends on the type of plan the customer chooses. A good til cancelled order is also called an open order. A good til cancelled order is frequently used when an investor puts a price restriction on his transaction.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Good Til Cancelled are sourced/syndicated and enhanced from:
This glossary post was last updated: 9th February, 2020