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An order condition that only allows a fill if the entire order can be completed.
Why It Matters
All-or-none (AON) exists to prevent partial fills. If you want 500 shares and only 300 are available at your price, an AON order won't take the 300 - it waits until all 500 can fill. Unlike fill-or-kill, which cancels instantly if it can't complete, AON can keep waiting. It's useful for avoiding the awkwardness (and sometimes extra cost) of being filled in dribs and drabs, though it can mean waiting longer or not filling at all.
Key Points
- Fills only if the whole order can complete
- Prevents partial fills
- Can keep waiting, unlike fill-or-kill
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Time in Force: Day, GTC, IOC & FOK
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Related Terms
Common Questions
An order condition that only allows a fill if the entire order can be completed. All-or-none (AON) exists to prevent partial fills. If you want 500 shares and only 300 are available at your price, an AON order won't take the 300 - it waits until all 500 can fill.
All-or-none (AON) exists to prevent partial fills. If you want 500 shares and only 300 are available at your price, an AON order won't take the 300 - it waits until all 500 can fill. Unlike fill-or-kill, which cancels instantly if it can't complete, AON can keep waiting. It's useful for avoiding the awkwardness (and sometimes extra cost) of being filled in dribs and drabs, though it can mean waiting longer or not filling at all.
Fills only if the whole order can complete
Prevents partial fills
Can keep waiting, unlike fill-or-kill