Used in the context of general equities. Request from a customer to either buy or sell stock, which, if not
cancelled or
executed the day it is placed, automatically expires. All orders are day orders unless otherwise specified.
Traders often make calls before the opening to check for
renewals.
An order which, if not executed during the trading session the day it is entered, automatically expires at the end of the session. All orders are assumed to be day orders unless specified otherwise.
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