Good-Til-Date/Time (GTD) Orders

The GTD (Good-til-Date/Time) time in force lets you select an expiration date and time up until which an order will continue to work. Setting this attribute requires both a time in force selection of GTD, a date entry in the Expiration Date field, and a time entry in the Expiration Time field if that level of detail is required. Note that if you only enter a good-till date, the unfilled order will cancel at the close of the market on the specified day.*

Notes:

The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.


Products Availability Routing TWS
Bonds US Products Smart Attribute
Crypto Non-US Products Directed Order Type
EFPs Time in Force
Forex
Futures
FOPs
Options
Stocks
Warrants
Crypto Notes: Available in Desktop TWS only and for SELL orders only.
View Supported Exchanges|Open Users' Guide

Example

Good–Til-Date/Time Order

Order Type In Depth - Good–Til-Date/Time Order

Step 1 – Enter a Good-Til-Date/Time Limit Order

You want to submit an order for 100 shares of XYZ which will continue to work (if necessary) until 4:00 pm ET on July 23. First you create a limit buy order by clicking the Ask price of XYZ, then you enter a limit price.

Assumptions
Action BUY
Qty 100
Order Type LMT
Market Price 47.56
Limit Price 47.54
Good–Til-Date/Time Order

Step 2 – Enter a Date and Time, then Transmit the Order

Next, you complete your order by selecting GTD from the time in force field, then entering a date and time In the Exp Date and Exp Time fields, you use the Calendar icons to select the desired date and time, then you transmit the order. The submitted order will work until it executes, is canceled, or until 4:00 pm ET on July 23, the specified date and time.


Step 3 – Order Transmitted

You've transmitted your good-til-date/time order, which will be held in the IB system until it fills, until you cancel it or until 4:00 pm ET on July 23, the specified date and time.


Step 4 – If Not Filled, Order Canceled on Specified Date and Time

At 4:00 pm ET on July 23, your limit order still has not been filled, and you have not canceled it. Because your order includes a good-til-date/time (GTD) time in force, it is therefore canceled.

Assumptions
Action BUY
Qty 100
Order Type LMT
Market Price 47.56
Limit Price 47.54
Time in Force GTD
Exp. Date July 23, 20XX
Exp. Time 4:00 PM

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.


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