During post-trading, what happens to orders with validity of current business day?

During post-trading, what happens to orders with validity of current business day?

• A. They will be canceled and not executed
• B. They will be extended to the next day
• C. They will be rejected
• D. They are automatically entered as open orders

Answer: (C)

When an order is set to be valid only for the current business day, it is tied to the active trading session. Once the session ends, there’s no live market left for it to be matched, so the post-trading system marks it as no longer valid and rejects it. It isn’t extended to the next day, nor kept as an open order, and it isn’t simply canceled by user action. The automatic response to expiration of a day-only order in post-trading is rejection.

When an order is set to be valid only for the current business day, it is tied to the active trading session. Once the session ends, there’s no live market left for it to be matched, so the post-trading system marks it as no longer valid and rejects it. It isn’t extended to the next day, nor kept as an open order, and it isn’t simply canceled by user action. The automatic response to expiration of a day-only order in post-trading is rejection.