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GTC Order

It stands for good til canceled order (good until canceled order); an order (placed to buy or sell securities) that...

Good Til Canceled Order

An order (placed to buy or sell securities) that remains on the books until it is either executed or cancelled...

Open Order

An order (placed to buy or sell securities) that remains on the books until it is either executed or cancelled....

Contra Broker

A broker that takes the contra-side (opposite side) of a deal or trade that another broker has already set up...

Contra-Side Order

The opposite side of an order (usually in relation to a block trade). Essentially, brokers or broker-dealers help market participants...

Carrying Firm

A brokerage firm that handles a customer's orders to buy and sell securities, and additionally maintains custody of the customer's...

Clearing Firm

A brokerage firm that handles a customer's orders to buy and sell securities, and additionally maintains custody of the customer's...

SNAP MID Order

It is short for snap to midpoint order; an order in which the original order price is set based on...

Snap to Midpoint Order

An order in which the original order price is set based on the current bid-ask spread plus or minus an...

Midpoint Peg

A type of non-displayed order that is pegged to the average of the National Best Bid (NBB) and National Best...