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One Cancels the Other Order (OCO)
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A contingent order providing that one part of the order is canceled if the other part is executed. For example, if an investor has limited funds to invest, he might place orders to buy a stock and a bond with the provision that the purchase of the stock cancels the order to buy the bond and, conversely, that the purchase of the bond cancels the order to buy the stock. See also Contingent Order.
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