What is Fill or Kill (FOK)?
Fill-or-kill executes completely at once or cancels — no partials.
Indian market context (NSE)
Reference levels: Nifty 50 at 24,300, Reliance Industries at ₹1,300, Bank Nifty futures at 55,000 (lot size 30). Examples below show how Fill or Kill (FOK) shows up on Indian index, equity, and futures books — update to live quotes in your journal.
Nifty 50 perspective
Fill-or-Kill (FOK) Order on Nifty futures at 24,300: verify freeze quantity and tick size on NSE; market orders in opening auction behave differently from continuous session.
Reliance Industries perspective
Fill-or-Kill (FOK) Order on Reliance (₹1,300): AMO and GTT rules vary by broker; intraday MIS auto-square-off at 15:15 IST overrides resting fill-or-kill (fok) order unless converted.
Bank Nifty futures perspective
Fill-or-Kill (FOK) Order on Bank Nifty (55,000): bracket/OCO availability depends on broker stack — test fill quality on 100-point stop triggers before live size.
How to validate
- Validate Fill or Kill (FOK) fills against broker contract notes monthly.
- Measure median slippage in points/₹ for Fill or Kill (FOK) on Bank Nifty vs mid-caps.
- Flag sessions with abnormal rejections or partial fills for separate review.
- Compare limit vs market tags only on symbols with similar liquidity.
How to track in TradeLyser
- Record order type, limit price, fill price, and latency on the trade.
- Tag “slippage > plan” when Fill or Kill (FOK) fills worse than expected.
- Monthly slippage report by symbol and order type in analytics.
- Reconcile with broker order log quarterly.
Best practices
- Choose Fill or Kill (FOK) before the move, not after FOMO entry.
- Default to limits on illiquid mid-caps; markets on urgent exits only.
- Log rejected orders — they reveal unrealistic limit discipline.
- Review slippage in R-multiples, not only rupees.
Common pitfalls
- Chasing with market orders after Fill or Kill (FOK) already moved.
- Using limits on fast Bank Nifty breaks without timeout rules.
- Not recording partial fills — skews performance stats.
- Assuming broker fills match intended Fill or Kill (FOK) every time.
How to use this in TradeLyser
Log FOK failures — adjust limit or liquidity filter.
Related terms
Immediate-or-cancel matches available liquidity now, cancelling unfilled quantity.
A limit order sets the worst price you accept. Buy limits fill at or below your price; sell limits fill at or above.
Liquidity describes depth and ease of entering/exiting at stable prices. Nifty top names differ sharply from illiquid small caps.
Order book displays resting buy and sell quantities at each price — depth and imbalance.
FAQ
FOK on market open?
Often fails — use limit with realistic price.
FOK for options legs?
Multi-leg may need all-or-nothing platform support.
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