Market On Close (MOC)
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A Market On Close order sends Market orders during the closing auction of the current business day. Orders can be entered at any time during the trading day.
Because the order is intended to execute at the closing for the day...
- MOC orders must be Market orders and cannot be Limit orders.
- You can only specify a quantity, not a price.
To place a Market On Close order from the Market Window...
- Click in the appropriate expiration on the bid or ask side of the Market Grid to seed the Order Pane with a contract.
In the Order Template section, select Market in the Order Type list.
This disables the main Price field.
- Select On Close in the Time-in-Force list.
- Specify the order quantity.
Set the routing and/or customer information.
Note: You can setup routing rules and customer profiles, or use the <Default> profile. Refer to Creating a Customer Defaults Profile
- Click Buy or Sell once you have entered the desired order parameters to submit the order.