In trading, a conditional order which is used for executing a transaction in its entirety or not at all is known as Fill or Kill order. It is generally used for placing large orders and executed within a few seconds of the order being disclosed. It is a time bound order at the exact price and quantity or else, ‘killed’ or cancelled. ‘Partial fill’ or partial order execution is not allowed in such orders. These orders involve large quantities and a delay in execution can have an impact on stock prices and the market as well.
