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ECNs, Exchanges
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Re: TimeInForce
Antonio Barakat / GOLDMAN SACHS
21 May 2008 2:59PM ET> Hi,
>
> If an order can remain in the market for a whole week, and one week
> is the trading session, should TimeInForce be set to 0 when
> submitting an order?
>
> Regards
>
> Ainhoa
If the destination automatically cancels all orders after they expire ( for the 1 week trading session), which would be logical in the scenario you described; then TIF should be "0". [[[ 0 = Day Order ]]] Most execution destinations cancel all Day orders at the end of their trading session (usually a day - but in your case 1 week). Unless their systems can not keep a record of the trade's posted date and then they will most likely explicitly request a GTD order to expire after 1 week.
TimeInForce Ainhoa Dewisme / Reuters 21 May 2008 11:41AM ET Re: TimeInForce
Antonio Barakat / GOLDMAN SACHS 21 May 2008 2:59PM ET
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