A fill or kill (FOK) order is "an
order
Order, ORDER or Orders may refer to:
* A socio-political or established or existing order, e.g. World order, Ancien Regime, Pax Britannica
* Categorization, the process in which ideas and objects are recognized, differentiated, and understood
...
to buy or sell a
stock
Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...
that must be executed immediately"—a few seconds, customarily—in its entirety; otherwise, the entire order is cancelled; no partial fulfillments are allowed.
Characterized as "extreme orders", FOK orders are "most commonly used when your order is for a large quantity of stock and is usually a market or limit order that requires immediate execution".
They are also used when several unlinked markets are available for the same asset, in which case the trader will try to get the whole order filled in each market sequentially, without having to manually cancel each order if it is unfilled.
See also
*
All or none (AON)
*
Immediate or cancel (IOC) – allow partial execution
References
External links
Fidelity.com Help page for Fill or Kill
Stock market
{{econ-stub