What are Retention Orders?

These orders state the system to keep the orders pending until the market price reaches the specified limit order price.

The various retention orders are:

• Day or End of Session Order: This is the most commonly used retention type. This is opted by a trader when he/she wants the pending order to remain active only till the day end. Post day end, the order will automatically be canceled out.
• Immediate or Cancel Order (IOC): This is opted by a Trader when he/she wants the order to either be immediately executed or canceled. So if the order is not filled immediately then it will be canceled.
• Cancel On Log-Out (COL): This is opted by a trader when he/she wants the pending order to remain active only till the login. So once the trader logouts of the trading software then the pending order is canceled.
• Good Till Cancel Order (GTC): This is opted by a trader when he/she wants the pending order to remain active until he/she manually cancels the order OR it gets executed when market price breaches the limit prices.
• Good Till Date Order (GTD): This order is available only in Commodity derivatives. This is opted by a trader when he/she wants the pending order to remain active only until a pre-determined date and on expiry of the day, the order is automatically canceled out.