Time-In-Force orders refer to order instructions which indicate how long an open order will remain active for before it expires. This provides traders with an additional measure of control when opening active positions.
There are 3 available Time-in-Force orders available on Delta Exchange – GTC, FOK & IOC.
GTC – GTC, or Good-Till-Cancelled, ensures that the order remains active until cancellation by the trader. When using this order type, an order will either execute or be manually canceled by the trader.
FOK – FOK, or Fill-Or-Kill, ensures that the entire order is filled immediately. If this is not the case, it will cancel and not execute. FOK orders prevent partial fill orders and ensure that traders get the full amount specified within each order.
IOC – IOC, or Immediate-Or-Cancel, ensures that any unfilled parts of an order are canceled immediately if not filled. IOC orders will as large a part of an order as possible, canceling the rest immediately.
Time-In-Force orders are a powerful tool for traders to improve control over the timing and execution of their orders on Delta.