What is a fill or kill order?

The order must be filled in its entirety or else canceled (killed). A FOK is essentially an all-or-none (AON) and immediate-or-cancel order (IOC) combined. A Fill or Kill (FOK) order is an order that is directed to be executed immediately at the market or a specified price or canceled if not filled.

What is fill or kill (FOK)?

Fill or kill (FOK) is a conditional type of time-in-force order used in securities trading that instructs a brokerage to execute a transaction immediately and completely or not at all. This type of order is most often used by active traders and is usually for a large quantity of stock.

What happens if you cancel a fill or kill order?

Instant execution necessities often result in the cancellation of fill or kill (FOK) orders within less liquid markets; this outcome subsequently triggers missed opportunities. Market Impact: Inadvertently, large FOK orders may disclose trading intentions; this disclosure could potentially exert an unfavorable influence on market prices.