‘All or None’ is an order which comes with a mandate of being executed ‘completely’ or in its entirety. Partial execution is not allowed in this kind of order. Time is not of essence here, but order execution is.
Key features of All or None Orders
Some of the noteworthy features of these order types are:
a. These orders are executed through brokers and the buyer or seller fixes the conditions.
b. In absence of availability of the required number of shares, the order will be canceled.
c. All or None order remains active till the time it is executed.
d. It does not get immediately canceled if it is not executed as soon as presented, but remains ‘alive’ or ‘active’ till it is either canceled or executed.
