Business and Personal Finance Dictionary

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• GOOD-TILL-CANCELED
  
  Is an order which remains in effect until it is executed or canceled. The cancellation can be predetermined such as can in 2 months (giving a specific time) or left open and not specifying any time. However, many brokerage firms and traders may require ratification of all open orders at the end of the month or other time span of their choosing to minimize errors.
  
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