All or none

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All-or-None (AON) trades are specially designated large order trades that must be completely filled or not at all. A minimum number of contracts, which varies according to product, is required for the AON designation. In addition to being an efficient way of transacting large orders, AON trades ensure that such orders are also executed at a single price. An AON order may be either a day order or a GTC (good 'til cancelled) order.