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. 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.
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 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.
