Trading & MarketsQuestion 91 of 125
A 'fill-or-kill' (FOK) order instructs the broker to:
a.Fill the order over the course of the day
b.Fill part of the order and cancel the rest
c.Execute the entire order immediately and completely, or cancel it entirely
d.Hold the order until a better price appears
Explanation
A fill-or-kill order must be executed in its entirety immediately, or it is canceled outright; partial fills are not permitted. It differs from an immediate-or-cancel order, which allows partial execution, and from an all-or-none order, which does not require immediate execution.
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