Search for an answer or browse help topics to create a ticket

Featured

Show moreless
View all categories

What is the difference between IOC (Immediate or Cancel) and Day Validity?

The validity tab gives you two validity options for the order you place.

They are Day (Regular day order) and Immediate or Cancel (IOC) orders.

Day orders remain valid and will wait for the order matching until 3:30 PM(Market close). The order gets executed on finding an order match. Day orders do not get auto-cancelled, unlike IOC orders.

IOC (Immediate or Cancelled) allows a user to buy or sell a security as soon as the order is placed into the market, failing which the order will be removed from the system.

In an IOC order, a partial match is possible for the order, and the unmatched portion of the order is cancelled immediately.

When IOC orders don't get matched, the error '16388: Unmatched orders cancelled by the system' is displayed.

If you wish to place long-standing target and stop-loss orders with a validity of 1 year on your holdings and positions, you can use the GTT feature .