Fill Or Kill - FOK

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Dictionary Says

Definition of 'Fill Or Kill - FOK'

A type of time-in-force designation used in securities trading that instructs a brokerage to execute a transaction immediately and completely or not at all. This type of order is most likely to be used by active traders and is usually for a large quantity of stock. The order must be filled in its entirety or canceled (killed). The purpose of a fill or kill order is to ensure that a position is entered at a desired price.

Investopedia Says

Investopedia explains 'Fill Or Kill - FOK'

Without a fill or kill designation, it might take a prolonged period of time to complete a large order. In reality, however, the fill-or-kill type of trade does not occur very often. Other methods of instructing a brokerage on the time frame in which a trade is to be executed include “immediate or cancel,” which means to fill all or part of the order immediately, then cancel any part that cannot be filled, and “good ‘til canceled,” which keeps an order open until it is able to be filled at a specified price.

Related Definitions

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    Fill

    The action of completing or satisfying an order for a security or commodity. It is the basic act in transacting stocks, bonds or any other type of security.
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  • Immediate Or Cancel Order - IOC

    An order requiring that all or part of the order be executed immediately after it has been brought to the market. Any portions not executed immediately are automatically cancelled.
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  • Kill

    To cancel a trade or order that has been placed, but not filled.
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    • Limit Order

      An order placed with a brokerage to buy or sell a set number of shares at a specified price or better. Limit orders also allow an investor to limit the length of time an order can be ...
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    • Market Order

      An order that an investor makes through a broker or brokerage service to buy or sell an investment immediately at the best available current price. A market order is the default option ...
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    • Stop-Limit Order

      An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given ...
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    • Time In Force

      A special instruction used when placing a trade to indicate how long an order will remain active before it is executed or expires. Time-in-force options allow traders to be more specific ...
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    • Canceled Order

      1. A previously submitted order to purchase or sell a security that is canceled before it has been executed on an exchange.2. An order that can't be executed due to parameter ...
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    • At-Or-Better

      An order condition instructing a broker to only fill a transaction at a specific price or above it. Unlike a market order, an at-or-better order will expire if a specific price target is ...
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