fill-or-kill order

Fill or Kill

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.
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fill-or-kill order

An order sent to the floor of an exchange, demanding that it either be filled immediately and in full or be canceled.
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.