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.
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one-cancels-the-other order

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Looking at the future, he sees three possible alternative orders for the region -- cooperative security, great power concert and a balance of power system.
* Order: Are all alternative orders possible between main and subordinate clauses, and if so, does order have syntactic, semantic, or pragmatic consequences?
In reaching its decision, even when no alternative orders were proposed, the court's exercise of discretion involved an inquisitorial element, underlined by the statutory requirement for a report from the local authority under section 14A(8) Children Act 1989.
They need to seek alternative orders, such as warship export orders, in order to secure long term futures."
The movement of work out of the UK, particularly in electronic and telecom equipment manufacture, also meant Carclo became less efficient, as while the UK plants found alternative orders it was not work they were used to.
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