Order Types
Immediate-or-Cancel Order
Definition
What is Immediate-or-Cancel Order?
An order requiring immediate execution of all available quantity, with any remainder cancelled.
Example in practice
How This Looks in Practice
Only 3,000 of 5,000 shares fill immediately and the rest is cancelled.
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Related Terms
Order Types
Market Order
An instruction to buy or sell immediately at the best available prices.
Order TypesLimit Order
An instruction to trade only at a specified price or better.
Order TypesStop Order
An order that becomes active after a specified trigger price is reached.
Market DataOpen Price
The first official or regular-session traded price for a period.