One-cancel-all Order Definition

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Definition Of One-cancel-all Order:

A type of order comprising several limitorders for several companies,but in the event that one gets filled, the rest are canceled.
This type oforder allowsa trader to buy one out of anumber of potential stocks at the best price in the shortest amount of time.For example, a trader might use a one-cancel-all order if he or she has $5,000 to invest in the market and wants to put it all in one company but has several possible candidates. If the trader is looking at three stocks -ABCfor $5, KLMfor $20 and XYZ for $50 - the trader enters a one-cancel-all order for 1,000 shares of ABC, 250 shares of KLM and 100 share of XYZ. If XYZ is immediately filled at the $50, then the other two orders are canceled and will not be filled.

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