An immediate or cancel (IOC)

order Order, ORDER or Orders may refer to: * Categorization, the process in which ideas and objects are recognized, differentiated, and understood * Heterarchy, a system of organization wherein the elements have the potential to be ranked a number of ...

, also known as an "accept order", is a finance term used in

investment banking Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...

securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any fo ...

transactions that refers "an

to buy or sell a

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

that must be executed immediately". In case the entire order is not available at that moment for purchase a partial fulfillment is possible, but any portion of an IOC order that cannot be filled immediately is cancelled, eliminating the need for manual cancellation. This "partial fulfillment" aspect is what differentiates IOC orders from

all or none All or none (AON) is a finance term used in investment banking or securities transactions that refers to "an order to buy or sell a stock that must be executed in its entirety, or not executed at all". Partial execution is not acceptable; the order ...

(AON) and

fill or kill A fill or kill (FOK) order is "an order to buy or sell a stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''espec ...

(FOK) orders, but the terms might be used interchangeably in some markets.

Benefits

It is considered a "clean, quick, and easy way to acquire securities or goods

hat A hat is a head covering which is worn for various reasons, including protection against weather conditions, ceremonial reasons such as university graduation, religious reasons, safety, or as a fashion accessory. Hats which incorporate mech ...

can save time and money" and the "chances of receiving at least a portion of the order within the time frame required is very good". IOC orders are generally employed when ordering "large quantities of

". The term is also used to describe an order for goods, especially when vendors are concerned that "not all items and quantities can be honored within the amount of time required by the customer". Placing an IOC order allows them to fill the order incrementally.

References

Stock market Share trading {{Stockexchange-stub

Benefits

See also

References