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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

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Definition 1.

Good Til Canceled. An order to buy or sell which remains in effect until it is either executed or canceled (although brokers usually set a limit of 30 to 60 days, after which the broker will automatically cancel it or ask the customer if he/she wants to keep it active). also called open order.
 

Definition 2.

See: Good 'til cancelled order
 
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