Looks like traders at the nations oldest stock exchange are about to lose two order types next year.
According to a release on its website posted on Nov 16, the New York Stock Exchange alerted its members that it is eliminating the Stop and Good Till Canceled order types, effective February 26, 2016. The final date is subject to revision and effectiveness of a filing with the Securities and Exchange Commission.
Additionally, all existing GTC and Stop Orders residing on the NYSE book will be cancelled. Firms wishing to receive electronic outs on that date, will need to remain connected to NYSE gateways.
