one-cancels-the-other order

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One-Cancels-the-Other Order

An order to conduct two transactions such that, if one transaction is done, then the other is cancelled. For example, an investor may wish to buy both stocks and bonds at a certain price. If the price becomes available for bonds first, that part of the order is filled while the order to buy stocks is cancelled. OCO orders may apply to different types of securities or even to different types or orders; for example, one may contain both stop-loss orders and limit orders. OCO orders are useful to investors who have limited funds and perhaps are unsure about the market's direction at a given time. It is also called an either-or order.

one-cancels-the-other order

References in periodicals archive ?
Advanced Trade Management (ATM): includes automated stop loss and profit target order submission, automatic self-tightening trailing stops, and OCO orders
uk/) shows how to use OCO orders to your advantage.
You can also use OCO orders on stop losses and limit orders.
The market is currently at 5500, so you place one OCO order to buy at 5550 and another to sell at 5450.