How long does an order stay in the market?

When placing orders on Invest Direct, it is important to understand how long orders remain active and the circumstances in which they may expire earlier than expected. Order validity varies by market.

Orders placed on the NZX remain active for up to four weeks from the date they are submitted. When placing an NZX order, you can select an expiry date within this four‑week period.

If an order is partially filled, the remaining unfilled quantity will stay in the market until one of the following occurs:

If a stock is subject to a corporate action, such as going ex-dividend, ex-share consolidation, or ex-share split, all open orders will automatically expire, including partially filled orders. A new order must be placed if you wish to continue trading the stock.

Orders placed on the ASX remain active for up to three weeks. When submitting an ASX order, you can set an expiry date within this three‑week timeframe.

Partially filled orders will remain open until filled, expired based on the selected expiry date, cancelled, or impacted by a corporate action. If a stock goes ex-dividend or undergoes a share consolidation or split, any open orders will automatically expire.

Orders placed on US markets are valid for one trading day only. If an order is not fully executed by market close on the day it is placed, any unfilled portion will automatically expire.

Orders placed on UK markets are also valid for one trading day only. Any unfilled quantity remaining at market close will automatically expire.

These order validity rules apply to both buy and sell orders across all markets. Partial fills do not extend the life of an order beyond its applicable expiry period, and all orders must be reviewed and confirmed before submission.

For larger trades, we recommend ensuring sufficient cleared funds are available in your account prior to placing an order. If you have questions about order expiry, corporate actions, or the status of an order, our team is happy to assist.