An order to 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 FOK may be considered the opposite of a
good 'til cancelled (GTC) order; it differs from an
immediate or cancel (IOC) order because an IOC may only be partially filled, while an FOK must be entirely filled or the whole offer is void. An FOK is considered a type of
day order, but has a much shorter time frame. See also:
All-or-None Offering.