Fill-or-Kill Orders Clause Samples

A Fill-or-Kill (FOK) order clause defines a type of trading instruction that requires an order to be executed immediately in its entirety or not at all. In practice, if the specified quantity of a security cannot be bought or sold at the desired price in a single transaction, the order is automatically canceled. This clause is commonly used by traders who need certainty about the execution of their orders and want to avoid partial fills. Its core function is to ensure that a trader either completes the full transaction instantly or does not transact at all, thereby preventing unwanted partial executions and managing execution risk.