Chapter 04 · Section 4.1

All-or-none, Fill-or-kill

• All-or-none orders are market or limit orders which are to be executed in their entirety or not at all.
• Fill-or-kill orders must be executed immediately and in their entirety upon hitting the trading floor or else the order is cancelled.
• Immediate-or-cancel orders are market or limit orders that are to be executed in whole or in part immediately upon getting to the trading floor. Any portion of the order not executed is cancelled.