what is ioc in zerodha

IOC in Zerodha stands for Immediate or Cancel, which is a type of validity for buy and sell orders in the stock market. When placing an IOC order, a user can buy or sell a security as soon as the order is placed into the market. If the order is not executed, it gets auto-cancelled, and the order is removed from the system. In an IOC order, a partial match is possible for the order, and the unmatched portion of the order is cancelled immediately. When IOC orders dont get matched, the error 16388: Unmatched orders cancelled by the system is displayed.