immediate-or-cancel order

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Immediate-or-Cancel Order

An order from a broker to buy or sell a security or derivative, usually in large quantities, in which investors have a short period of time to partially or completely fulfill the order before it is cancelled. An IOC may be considered the opposite of a good 'til cancelled (GTC) order; it differs from a fill-or-kill (FOK) order because an IOC may only be partially filled, while an FOK must be entirely filled or the whole offer is void. An IOC is considered a type of day order, but has a much shorter time frame. See also: All-or-none offering.

immediate-or-cancel order

A customer order that not only specifies a price but also requires the broker to fill immediately as much of the order as possible and cancel any part remaining. This type of order differs from a fill-or-kill order, which disallows a partial fill.
References in periodicals archive ?
For more than a year, the IOA has defied IOC orders and has been dilly- dallying, forcing many Indian athletes to compete at international events under the flag of the IOC or the Olympic Council of Asia.
Lightspeed Dark Assault: The new Dark Assault route offers improved pricing, enhanced Dark Pool access with more liquidity providers, increased chance for price improvement, ability to rest orders, and both day and IOC orders are now accepted.
The individual's right to participate in his or her own treatment decisions becomes even more vital when considering the side effects of commonly-used psychiatric medications, particularly antipsychotics, which are the main component of most IOC orders.
In some cases, clients may be unable to avoid an IOC order despite their objections.
The court surmised that the judge would not grant an IOC order if the individual had not had the opportunity to meaningfully participate in the treatment plan.
Four unidentified athletes from the Atlanta Olympics could be banned for four years if the IOC orders the retest of potentially positive samples.
The Exchange will not accept Market IOC orders in either the Early or Late Trading Session.
The statement clearly indicated that those who will be part of any such act that flouts the IOC orders will also have to face the music.
If the market moves into the limit price, the order aggressively takes liquidity by sweeping with IOC orders.