Fill or Kill Orders Explained
In this week’s Fast Finance lesson, New York Institute of Finance Instructor, Anton Theunissen, explains Fill Or Kill (FOK) Orders. A FOK is an order that requires the immediate purchase or sale of a specified amount of stock, though not necessarily at one price. If the order cannot be filled immediately, it is automatically cancelled (killed). For example, a FOK that is traded on the NASDAQ exchange is equivalent to placing an order which is an immediate or cancel order. This means that when you place an order, and the order isn’t executed immediately as it arrives on the exchange order book, then it is cancelled. In addition, it’s an all-or-nothing order, meaning the order must be executed in its entirety or not at all.
About the Instructor
Anton Theunissen has twelve years of financial services experience and more than 10 years of academic experience, teaching finance, economics and mathematics to graduate and undergraduate students. His research interests include the effects of securitization and rational default behavior on mortgage credit extension.
Learn more about Capital Markets
This introductory program offers a comprehensive survey of capital markets. Money and banking, the role of central banks and the evolving regulatory landscape are reviewed. The program also provides a thorough grounding in the full range of capital market instruments.
What is the Fast Finance series?
The New York Institute of Finance presents the Fast Finance Video series – a curated playlist of quick-fire financial lessons pertaining to the securities industry. Fast Finance provides expert knowledge to entry-level analysts to heads of central banks ranging from fast-paced breakdowns of industry developments to complex deep drives into regulations, compliance and securities valuation.
Best of all, these quick, micro-lessons from NYIF are free to access! To view more Fast Finance lessons, click here.
About NYIF
The New York Institute of Finance (NYIF) is a global leader in professional training for financial services and related industries. NYIF courses cover everything from investment banking, asset pricing, insurance and market structure to financial modeling, treasury operations, and accounting. The New York Institute of Finance has a faculty of industry leaders and offers a range of program delivery options, including self-study, online courses, and in-person classes. Founded by the New York Stock Exchange in 1922, NYIF has trained over 250,000 professionals online and in class, in over 120 countries.
See all of NYIF’s training and qualifications here.
Questions/Concerns contact us at (347) 842-2501 or email customerservice@nyif.com.
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