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Book-Or-Cancel

A book-or-cancel order (BOC) is an order that is placed into the order book to ensure a passive execution. If immediate (and hence aggressive) execution is possible, the order is automatically rejected by the system without entry in the order book. Resting BOC orders are deleted when an auction trading is triggered as any trading volume executed in an auction trading is classified as aggressive trading volume. During auction trading incoming BOC orders are rejected.

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