Trade Match Strategy

Immediate-Or-Cancel (IOC)
Immediate-Or-Cancel (IOC) order is an order that must be filled immediately at the limit price or better only. If the order cannot be filled immediately or fully (i.e. only partially filled), the unfilled portion will be cancelled.


Fill-Or-Kill (FOK)
Fill-Or-Kill (FOK) order is an order (buy / sell) that must be immediately filled entirely (usually within a few seconds) at the limit price or better; otherwise, it will be totally cancelled. So, this order does not allow partial execution.


All-Or-None (AON)
All-Or-None (AON) order is an order (buy / sell) that instruct the broker to either fill the order entirely at once at the limit price or better, or do not fill it at all.

Good Till Cancelled (GTC) Order
Good Till Cancelled (GTC) Order is an order that remains valid until you manually cancel it or until the order is filled. This kind of order does not expire automatically at the end of the day.

Brokerages would normally limit the maximum time for an order to be active up to 90 days. GTC order is normally used for entry order using Limit Order.
However, GTC order is also more common to be used for exit orders for setting stop loss or profit taking orders that can last for several days, weeks or even months.


Good Till Date (GTD) Order
Good Till Date (GTD) Order is an order that remains valid until the close of the market on the date specified, or until the order is filled.