TIF or Time In Force is a property that indicates the life time of the order.
TIF | Description | INET | Genium INET |
|---|---|---|---|
| Immediate or Cancel (IOC) | The order should be filled completely and immediately, otherwise it is cancelled. The volume necessary for the order to execute (other than the entire volume) can be adjusted Immediate or Cancel (IOC) in the Min Qty field that appears if you select IOC. Good tillMarket is matched immediately into trade(s) in full or in part upon entry, the rest of the order will then be cancelled. If minimum acceptable quantity is specified at a level equal to the total order quantity within an IOC order, the Order is effectively handled as a Fill-or-Kill (FOK) Order. | ✔ | ✔ |
| Good till Market Close (Day) | The order will last until the market closes for the day. | ✔ | ✔ |
| Good till Cancelled (GTC) | The order will last until it is cancelled, which means that unless it is cancelled during the day, it will remain in the market for the next trading day. | ✔ | ✔ |
| Good till Time (GTT) | The order will last until the time specified in the Time(Sys) field. The Time(Sys) field appears when you select GTT. | ||
| Fill or Kill (FOK) | The order should be filled completely and immediately, otherwise it is cancelled. | ✔ | ✔ |
| Good till Date (GTD) | The order will last until the date specified, it will be cancelled before the market opens the next trading day. | ✔ |