A type of order comprising several limit orders for several companies, but in the event that one gets filled, the rest are canceled. This type of order allows a trader to buy one out of a number 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 - ABC for $5, KLM for $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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The trader enters into a one cancel all order for 1, shares of ABC, 25 shares of KLM and 1 share of XYZ.

Then the other two orders are canceled and will not be filled.

A one-cancel-all order is an order that comprises several limit orders for several companies but in the event that one gets filled, the rest are canceled.

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