Immediate-or-cancel (IOC)

Fill whatever you can right now; cancel the rest.

In plain English

An IOC order never rests in the book. It is useful when you want to cap the price you pay without leaving an order behind.

Example

An IOC buy for 10 units at 100 finds only 6 available at that price or better, fills 6 and cancels 4.

Trading Basics

See also

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