A market order in fixed income futures products can be entered with Book-or-Cancel restrictions?

In the context of fixed income futures products, a market order is an instruction to buy or sell a futures contract at the best available price in the market. Market orders are designed to be executed immediately at the prevailing market price without any conditions or modifications.

The idea of "Book-or-Cancel" restrictions refers to the ability to either record the order as a confirmation of a trade that has occurred or cancel it if it cannot be filled immediately as specified. However, such restrictions typically apply to limit orders rather than market orders. The nature of a market order is such that it is executed right away, and if it cannot be executed, it does not get booked or require cancellation in the same sense as a limit order.

Therefore, saying that a market order can be entered with Book-or-Cancel restrictions is inaccurate. Since market orders do not incorporate any conditional execution stipulations, the correct response is that this statement is false.