Immediate Or Cancel
This is a special order used to allow for the immediate completion of an order for a smaller number of securities than requested. The order is cancelled if no portion of the order can be satisfied. This order allows partial satisfaction unlike the "Fill or Kill" order.
Example of use:
An investor reacts to the current market situation for bids and offers whereby the order is immediately cancelled if no part of the order can be satisfied immediately. If a portion of the order can be satisfied on the market, this portion will be satisfied and the remaining portion of the order will be cancelled immediately.
Placing an order:
Select "Immediate or Cancel" in the order window.
