Wednesday, November 28, 2012 10:04:28 PM
This is from Scottrade
http://research.scottrade.com/public/knowledgecenter/knowhownews/intheknow.asp?nlid=a41768cc034245b98b75f8563adcb04a
Cons
Less chance of getting an execution: Because you are setting a specific condition, your order becomes a lesser priority to the market. Other regular limit orders at your price will execute ahead of yours. Additionally, AON orders are not subject to the SEC's Display Rule, which means that once your order is released by Scottrade to the marketplace, it does not have to be displayed to the public, which can also reduce its chances of getting filled.
More information on SEC's Display Rule:
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p004036.pdf
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