전량 집행 (AON) 주문
주문한 수량 전체가 체결되거나, 그렇지 않으면 전혀 체결되지 않는 조건부 주문.
거래 비용 절감과 포트폴리오 비중 유지를 위해 부분 체결을 방지하고자 할 때 사용됩니다.
graph LR
Center["전량 집행 (AON) 주문"]:::main
Rel_atomic_delivery["atomic-delivery"]:::related -.-> Center
click Rel_atomic_delivery "/terms/atomic-delivery"
Rel_pub_sub_messaging["pub-sub-messaging"]:::related -.-> Center
click Rel_pub_sub_messaging "/terms/pub-sub-messaging"
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🧒 5살도 이해할 수 있게 설명
도너츠 12개 한 박스를 사러 갔을 때, '12개가 다 있으면 사고, 하나라도 모자라면 사지 않겠다'고 말하는 것과 같습니다.
🤓 Expert Deep Dive
From a market microstructure perspective, AON orders impact the order book by being 'hidden' or resting as private instructions depending on the exchange's matching engine rules. While they protect against fragmented fills and 'dust' positions, they significantly increase the probability of non-execution (execution risk). Sophisticated execution algorithms often simulate AON behavior using 'Fill-or-Kill' or 'Immediate-or-Cancel' bursts to minimize market impact while seeking deep liquidity.