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  • Writer's pictureGlobal MoonXBT

Fill Or Kill Order (FOK)

Some exchanges and trading platforms offer a type of order known as “Fill or Kill Order” (FOK). The term refers to the idea that an order must be filled immediately in its entirety or not executed at all. It is closely related to the “All or Nothing” (AON) order type, which refers to an order that must be filled in its entirety or not at all. Unlike, FOK orders, however, AON orders don’t have a specific focus on the immediate point in time.

Fill or Kill orders are often used when a trader doesn’t want to accept partial delivery of assets. For instance, when they have a time-based demand to fill their orders on distinct and unlinked markets or exchanges. So a FOK order would allow them to create multiple orders and wait for one to be fully executed without taking the risk of receiving partial fills. After one of the orders is filled in its entirety, the trader is able to cancel the remaining ones.

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