18:49
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LSDefine
Simple English definitions for legal terms
fill-or-kill order
Read a random definition: offer of compromise
A quick definition of fill-or-kill order:
A fill-or-kill order is a type of stock market order that must be completed immediately or canceled. It is used by investors who want to buy or sell a certain amount of stock at a specific price. If the order cannot be filled right away, it is automatically canceled. This type of order is different from other types of orders, such as limit orders or market orders, which may take longer to execute or may not be filled at the desired price.A more thorough explanation:
A fill-or-kill order is a type of stock market order that must be executed immediately or canceled. If the order cannot be filled immediately, it is automatically canceled. This type of order is used by investors who want to buy or sell a stock quickly and at a specific price.
For example, if an investor wants to buy 100 shares of XYZ stock at $50 per share, they can place a fill-or-kill order. If the order cannot be filled immediately at $50 per share, it will be canceled. This ensures that the investor does not end up buying the stock at a higher price than they intended.
Another example is if an investor wants to sell 500 shares of ABC stock at $75 per share. They can place a fill-or-kill order, and if the order cannot be filled immediately at $75 per share, it will be canceled. This ensures that the investor does not end up selling the stock at a lower price than they intended.