A market if touched (MIT) is an order to buy or sell below (or above)…
An all or none order attribute specifies to fill your order all at once or none at all. An all or none order does not take any partial order fills. ToledoTrade will typically route the order to the native exchange, or hold the order if an all or none qualifier isn’t supported. When held, Toledo Trade will attempt to simulate orders as follows:
- For US stock orders: The NBBO must qualify limit price AND the NBBO size must be equal to (or greater than) the order size + 1000 shares.
- For US options orders: The NBBO must qualify limit price AND the NBBO size must be equal to (or greater than) the order size + 10 contracts.
For example, an AON order to buy 1500 shares of ABC at $10.00/share will be held until the NBO qualifies (is less than or equal to $10.00) and the NBO size is equal to or greater than 2500 shares.
The order will remain active until it either executes or is canceled. The AON attribute can be used in conjunction with the basic order types and all times in force.