Validity restrictions
Validity restrictions
Provided that it is not executed beforehand, the trading partner can determine validity restrictions for the entire period the order is listed in the order book.
Good-for-day (GFD)
The order is valid until the close of trading on that particular trading day.
Good-till-date (GTD)
The order is valid until the close of trading on the trading day specified.
Good-till-cancelled (GTC)
The order remains valid until it is executed or cancelled.
Good-till-crossing/auction (GTX)
For volume discovery orders the validity restriction Good-till-crossing/auction can be used. Volume discovery orders with this condition will only be executed away from auctions. This order will not take part in auctions and volatility interruptions. As soon as the trading phase switches to Call Phase of an auction or a volatility interruption the volume discovery order with the condition Good till crossing/auction will be deleted.