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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Immediate Or Cancel Order

Definition:

A type of order you send to a broker or brokerage when trading securities. You're basically telling them "Now or never."

If the broker can't buy 100 shares of Google or whatever it is right this hot minute, you don't want them to bother trying later. Good if you have zero patience or want to take advantage of the current market prices.