Which statements apply to IOC orders?

IOC, or Immediate or Cancel orders, are designed to facilitate quick transactions in the market. The defining characteristic of these orders is that they must be executed immediately. If the entire order cannot be fulfilled upon entry, any portion that can be executed must be executed immediately, while any unfilled portions of the order are canceled.

Thus, the statement that IOC orders are executed immediately and in full, or to the extent possible, accurately captures the essential behavior of these orders. Traders utilize IOC orders when they want to ensure that if a trade cannot be completed in its entirety at the moment of order placement, the remainder of the order does not remain unfilled but is instead canceled to avoid problems associated with lingering, unfulfilled orders.

The other statements do not accurately describe how IOC orders function, especially the notion that unexecuted parts enter the Order Book, which is not the case for IOC orders as they are canceled if not executed immediately. Additionally, the statement regarding the availability of IOC orders for futures contracts is not accurate, as IOC orders can be used for various financial instruments, including futures.