All or None (AON)

Definition: An All or None (AON) is an order that tells your broker that if you can't get all of the shares, to cancel the order.  Sometimes when there's a lot of demand or too much supply for a stock, it's hard to buy or sell exactly the number of shares of stock that you want.  For example, if you want to buy 1000 shares and only 500 shares are available, you would only get 500 shares.  An AON trade prevents this from happening.

TeenAnalyst Advice: If you are placing a large order and don't want to worry about having your order only partially filled, an AON order will take care of this.  But, remember, if the shares aren't available, you won't get any of them.  So it's a tradeoff you need to consider.

wiseguy said:

If a limit SELL order is partially filled N times in succession during the same day, then do you pay multiple (N) commission costs?

wiseguy said:

Two people placed the same AON SELL limit order at $50 a share. On a given day, the market went up, and the daily high reported was $50.01 (one penny above the AON limit price). One order executed successfully, but the other person's order did NOT execute. I have actualy seen this scenerio occur in real life. I would like a detailed explanation why this can happen.

brother rich said:

For Van Guard, if I get several partial executions on the SAME DAY, I pay only one comision fee. But if it spans over 2 days, you get banged twice.