Time Conditions

1. DAY - A day order, às thé name suggests îs àn order whîch îs valid fôr day ôn whîch ît îs entered. If thé order îs not matched during thé day, thé order gets cancelled automatically àt thé end ôf trading day. 2. GTC - A Good Till Cancelled [GTCs] order remains în thé system until ît îs cancelled ßy user. It will therefore bé able tô span trading days îf ît doesn't gét matched. The Exchange may however set àn upper limit tô thé number ôf working days àn order càn stay în thé trading system. At thé end ôf thîs period, GTC orders àré cancelled automatically frôm thé system. 3. GTD - A Good Till Day [GTDs] order allows thé user tô specify thé number ôf days up tô whîch thé order should stay în thé trading system. At thé end ôf thîs period, thé order gets flushed ôùt frôm thé system îf ît îs not traded ôr îs not cancelled ßy trading member. 4. IOC - An Immediate ôr Cancel [IOCs] order allows à user tô buy ôr sell à security às soon às thé order îs released into thé market, failing whîch thé order îs removed frôm thé market. There could bé à partial match fôr such àn order resulting în ôné ôr more trades, în whîch case thé balance order will bé removed frôm thé market. All reference tô days în thé trading system wôùld refer tô working days. Thus, éàch day îs counted ôn à working day basis i.e. intervening holidays àré not considered. The days counted àré inclusive ôf day ôn whîch thé order îs placed. However, fôr Repo term, days àré counted ôn à calendar basis.