TThe following time-in-force settings can be specified for orders:
FOK (fill-or-kill) — such orders are either filled instantly or killed (cancelled). In other words, a fill-or-kill order must be fulfilled instantly or not executed at all. FOK orders are used when partial delivery of assets isn’t acceptable for any reason.
IOC (immediate-or-cancel) — this setting implies that any part of an order that can’t be filled instantly must be cancelled. Upon placing an IOC order, an attempt will be made to instantly execute it (in full or in part) at the best possible price, after which any remaining, unfilled part will be cancelled. If no amount is available at a specified price upon placing such order, it’s cancelled instantly.
GTC (good-‘til-cancelled) — the default setting applied to all limit orders. Open GTC orders are awaiting execution until they are cancelled explicitly by a trader or filled.
GTD (good-‘til-date) — can be applied to limit and stop limit orders. Such orders remain listed in the order book until a specified date or until they are cancelled by a trader. By that time the order can be partially executed.
DAY — can be applied to limit and stop limit orders. Such orders remain listed in the order book until 23:59 of the current day or until they are cancelled by a trader. By that time the order can be partially executed.
The order expiration time is defined by the time settings specified for the exchange, without taking into account the time settings of the devices from which the exchange is accessed.