An investor is reviewing order execution qualifiers with a financial advisor. Match each order qualifier on the left with its corresponding execution rule on the right.
- Immediate-or-Cancel (IOC)Must be executed immediately in whole or in part, with any unexecuted portion canceled.
- Fill-or-Kill (FOK)Must be executed immediately in its entirety, or the entire order is canceled.
- Good-Til-Canceled (GTC)Remains active across trading days until filled or explicitly canceled by the customer.
- Market-on-Close (MOC)Must be executed at or as close as possible to the official end of the trading day.
Answer
Immediate-or-Cancel (IOC) pairs with immediate execution in whole or in part with remainder canceled; Fill-or-Kill (FOK) pairs with immediate execution in its entirety or total cancellation; Good-Til-Canceled (GTC) pairs with remaining active until executed or canceled; Market-on-Close (MOC) pairs with execution at or near the official end of the trading day.
Each order type matches its distinct execution qualifier: Immediate-or-Cancel permits partial immediate fills with remainder cancellation; Fill-or-Kill demands an immediate 100% fill or full cancellation; Good-Til-Canceled remains open across sessions until filled or canceled; and Market-on-Close executes near the close of trading.
Step-by-Step Solution
Key Concept
Order Qualifiers and Execution Instructions
Estimated Time:1m 0s