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What is a market on close order (MOC)?

A market on close (MOC) order is a market order that is submitted to execute as close to the closing price as possible.

Summary of NYSE markets (NYSE, NYSE MKT, NYSE Arca) rules for entering/canceling/modifying market on close (MOC)

  • All MOC orders must be received at NYSE markets by 15:45 ET, unless entered to offset a published imbalance.
  • NYSE markets’ rules also prohibit the cancellation or reduction in size of any market-on-close (MOC) order after 15:45 ET.

Summary of Nasdaq rules for entering/canceling/modifying market on close (MOC)

  • All MOC orders must be received at Island by 15:50:00 EST and cannot be cancelled after 15:50 EST.

Jason Toledo

Jason brings more than 15 years of experience in online trading. Prior to starting ToledoTrade in 2019, Jason held senior and executive level positions at Scottrade, OptionsHouse and Zacks Trade. Jason is passionate about educating self-directed traders and is a leader and expert in the online trading industry.

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