Order Expiry

Order expiry defines the timeframe for which an order remains active in the order book before being automatically cancelled by the exchange. Common types include Good Till Cancelled, which keeps the order until the trader manually removes it, or Good Till Date, which expires at a specific time.

Choosing the right expiry is part of active order management; it ensures that orders do not persist indefinitely, which could lead to accidental execution. For active traders, short-lived orders are preferred to prevent stale instructions from being triggered by unexpected market spikes.

Understanding order expiry options is fundamental to managing risk and maintaining a clean, orderly portfolio.