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X_TRADER® Documentation

Market On Open (MOO)

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A Market on Open order sends Market orders during the pre-opening period, intended for execution at the opening market price. This order type is not available through MD Trader.

Because the order is intended to execute at opening market prices...

  • MOO orders must be Market orders and cannot be Limit orders.
  • You can only specify a quantity, not a price.

To place a Market On Open order...

  1. Click in the appropriate expiration on the bid or ask side of the Market Grid to seed the Order Pane with a contract.
  2. In the Order Template section, select Market in the Order Type list.

    This disables the main Price field.

  3. Select On Open in the Time-in-Force list.
  4. Specify the order quantity.
  5. 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

  6. Click Buy or Sell once you have entered the desired order parameters to submit the order..