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General TradingI
Immediate or Cancel Order (IOC)
An order to buy or sell a security that must be executed immediately, in whole or in part. Any unfilled portion of the order is automatically cancelled rather than remaining open on the order book.
Example
“For example, a trader places an IOC order to buy 1,000 shares at $50.00 — if only 600 shares are available at that price, those fill immediately and the remaining 400 are cancelled.”