Order type
In a Fill or Kill order, the trader is particular to transact a certain number of shares at a certain price. He sends in his order to the market, if both price and qty are matched the order goes, else it gets canceled.
Example - I want to sell 200 Shares of DLF at 118. The order will go through only if there is a buyer willing to buy 200 shares @ 118. Partial execution is not allowed.
2 Likes
FOK or Fill Or Kill order is an order that must be filled instantaneously or cancelled in its entirety.
No partial execution is allowed.
It is very similar to IOC (Immediate or Cancel) order except for the fact that IOC orders can have partial execution (some shares which are pending will be cancelled) while FOK orders are killed instantly if it does not get the specified quantity, even if few shares are available at the desired price.
2 Likes