Definitions for "Immediate or Cancel"
Keywords:  ioc, cancel, fill, partial, quantity
IOC. An order where the goal is to buy or sell the stated total quantity but is flexible in two distinct senses: The investor will accept any partial fill. The order, whether partially or fully executed, is immediately cancelled thereafter and does not remain open. As a best practice approach, an investor should consider attaching limits to IOC (Immediate Or Cancel) orders.
An order condition that requires all or part of an order to be executed immediately. The part of the order that cannot be executed immediately is canceled.
Instructions to immediately fill as much of a customer's order as possible and cancel any part remaining.