Immediate Or Cancel - IOC
This is a special order used to allow for the immediate completion of an order for a smaller number of securities than requested. If no portion of the order can be satisfied then the order is cancelled. This order allows for partial satisfaction unlike the "Fill or Kill" order.
An IOC is a special order similar to an FOK order.
Example of use:
An investor reacts to the current market situation for bids and offers whereby if an order cannot be immediately and completely satisfied, it is immediately cancelled. If a portion of an order can be settled on the market, this amount is settled and the rest of the order is immediately cancelled.
Placing an order:
Press the "Properties" button in the buy/sell window of the order. Once the expanded order options are shown, select the "Immediate or Cancel" parameter from the "Special Validity" section.
