A Minimum Guaranteed Fill (MGF) Order is an order which will be guaranteed complete fill or executed fully upon entry. In case the book or order is below the required limit, a trader or broker will provide the stock. Different stocks have different MGF levels and depend on various factors like the overall liquidity, demand and supply, volume and price. In case of a small order from a retail client below the Minimum Guaranteed Fill, the stock’s market maker or broker will have to fill it. They will need to fulfill the complete order, even if it means providing stock from their own quota of shares. MGF orders can be small orders from a retail client. Traders need to fulfill such small orders from retail investors at the best existing bid or ask price.
