Why an Order Did Not Fill: GTC, IOC and FOK
Understand order persistence and immediate-fill policies, then record the chosen setting and actual outcome without assuming every venue uses the same status.
Separate order price from its persistence setting
The price on a limit order is only part of its instruction. Time in force describes how the order is allowed to persist or seek an immediate match. An order disappearing quickly can therefore be consistent with its selected policy. Before interpreting the result, find both the order type and the persistence label in the saved order details.
Read GTC, IOC and FOK in plain language
GTC, IOC and FOK answer different questions about time and unfilled quantity. GTC permits persistence under the applicable venue rule. IOC attempts an immediate possible execution and leaves no resting remainder under the documented example. FOK requires the whole immediate outcome specified by the venue. These descriptions explain a policy; they do not show that a particular order received a fill.
Check whether a partial outcome was permitted
A partial fill is evidence about executed quantity, while the policy tells you what was permitted to happen to the rest. Keep requested quantity, executed quantity and the final status in separate fields. A visible order-book level is an observation at a moment, rather than proof that all of its displayed quantity was available to your own order.
Distinguish canceled, expired and rejected labels
Status wording needs its venue context. Rejected, canceled and expired can identify different paths, even when the unfilled amount is no longer resting. Preserve the original status rather than translating all three into failed. Also record any additional order constraint, such as post-only, because documented combinations can restrict which persistence choices are accepted in the first place.
Record the selected policy and final evidence
The record sheet helps compare the selected instruction with the evidence that arrived later. Copy the time-in-force setting from the saved order detail, then add the actual final status and execution quantity when known. Leave missing evidence visible. The hypothetical example illustrates available-quantity choices; it is not a recommendation to select a particular policy for a live trade.
Documented venue distinctions
These statements apply to the named provider and documented product. They do not imply identical rules elsewhere.
- Binance Spot and Kraken document GTC, IOC and FOK with distinct persistence and immediate-fill behavior. Official reference.
- Kraken describes IOC as immediate possible execution with the remainder canceled; FOK requires full immediate execution or cancellation. Official reference.
- Coinbase documents FOK rejection and a post-only incompatibility with IOC/FOK; status labels are venue-specific. Official reference.
Hypothetical case
Hypothetical request: 10 units, with only 6 immediately matchable at the permitted price. IOC may fill 6 and cancel the remainder; FOK requires all 10. GTC can leave an unfilled amount resting under its own documented conditions. Other matching restrictions still apply.
Six questions for your record
- What venue and product does this setting belong to?
- What time-in-force label was selected?
- Was immediate full execution required?
- Does the source permit a partial fill?
- What final status and quantity were actually recorded?
- Which venue-specific restriction applies?
Keep your own record
The CSV contains column headings only. The TXT contains the review questions and blank note spaces. Keep original evidence separately, preserve identifiers as text and leave missing facts unknown. Neither file sends data or performs an account check.