What is a Partial Fill?
Quick Answer: A partial fill happens when only part of your order executes at the requested price, leaving the remainder pending until more liquidity becomes available or the order expires.
Understanding Partial Fills
A partial fill occurs when only part of your order executes at the requested price. The remainder stays pending until more liquidity becomes available or your order expires.
When Partial Fills Happen
Large order sizes, thin liquidity, and restrictive order types (like FOK) increase partial fill risk. ECN venues often fill orders across multiple price levels to complete execution.
Monitoring Remainders
Keep an eye on order blotters. If the unfilled remainder lingers, decide whether to cancel and re-enter with a market order or leave it working.
Managing Partial Fills
Break large trades into smaller chunks, trade during peak sessions, and adjust slippage tolerances. Communicate with your broker if partial fills persist; they may improve routing.
Impact on Stops
If you hedge or offset positions automatically, partial fills can leave residual exposure. Confirm final sizes before placing protective stops.
Related Terms
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