Legal Definitions - all-or-none order

Definition: An all-or-none order is a type of stock market order where the investor instructs the broker to execute the trade either in its entirety or not at all.

Example: An investor wants to buy 100 shares of XYZ company at $50 per share. They place an all-or-none order with their broker. If the broker cannot find a seller willing to sell 100 shares at $50 per share, the order will not be executed. However, if the broker finds a seller willing to sell 100 shares at $50 per share, the entire trade will be executed.

Explanation: The example illustrates how an all-or-none order works. The investor wants to buy a specific number of shares at a specific price, and they do not want to execute the trade unless they can get the entire amount they requested. This type of order can be useful for investors who want to ensure they get the exact amount they want without having to worry about partial fills.