What is Order Duration?

What types of standard order durations are available?

The types of standard durations available are:

• Day order
• Good-till-canceled for up to 60 days (GTC).

What is a DAY Order?

Limit, Stop, Stop Limit, Trailing Stop or Trailing Stop Limit orders entered as Day Orders, expire at the end of a regular trading session unless cancelled by you or completely filled. Day orders are valid during regular market hours, usually between 9:30 am and 4:00 pm ET. If the day order is not completely filled before market close, the entire order or remaining portion of the partially filled order will be cancelled automatically, and a cancellation email will be sent to you. Day orders entered before market open will be valid for the current trading day and those entered after market close will be valid for the next trading day.
 
What is a GTC Order?

A GTC order remains open until it is completely filled, cancelled by you, or expires. When entering a GTC Limit, Stop, Stop Limit, Trailing Stop or Trailing Stop Limit on the SogoTrade platform, you have the option of designating an order expiration date ranging between 1 and 90 calendar days after the current trading day (or next trading day if the order is entered after market close). GTC orders are valid during regular market hours, usually between 9:30 am and 4:00 pm. ET. If the order is not completely filled by market close on the order's expiration date, the entire order or remaining portion of the partially filled order will be automatically cancelled.

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• Fills over Multiple Days
  GTC orders can sometimes be filled over several days which will affect the commission fee you will pay to execute an order. If there are not enough shares to fill your entire order during the course of one day, each separate day your order is partially filled will be treated as a separate order for commission calculation purposes. Multiple fills on any one day, however, will only entail a single commission fee.
  


• Corporate Actions
  In the event of a either an ordinary or extraordinary corporate action ( e.g. dividend payment, stock split etc.) on a stock related to an open GTC order on your account, SogoTrade will automatically cancel the open GTC order and send an email notifying you of the order's cancellation.
  
  
• Holidays and Weekends
  If the order expiration date specified for a GTC order happens to fall on market holiday or weekend, the expiration date for the order will be automatically changed to the last valid market date before your selected expiration date.