At-The-Close Order

AAA

DEFINITION of 'At-The-Close Order'

An order specifying that a trade is to be executed at the close of the market, or as near to the closing price as possible. An at-the-close order is one in which the broker or exchange is directed to ensure that an order is only filled at that given time of the trading, in most cases coming just prior to the end of trading on a given day.


This would be the opposite of an at-the-open order.

INVESTOPEDIA EXPLAINS 'At-The-Close Order'

It's essentially a market order that doesn't get entered until the last minute (or thereabouts) of trading. With this type of order you are not necessarily guaranteed the closing price but usually something very similar, depending on the liquidity in the market and bid-ask for the security in question. Traders who believe that a security or market will move more heavily during the last few minutes of trading will often place such an order in the hopes of having their order filled at a more desirable price.

RELATED TERMS
  1. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  2. Market-On-Close Order - MOC

    A non-limit (market) order executed as close to the end of the ...
  3. Open Rotation

    An order to buy or sell a security that is to remain active through ...
  4. After The Bell

    A phrase used to describe news, earnings reports and other activities ...
  5. At-The-Opening-Order

    An investor's directive to her broker or brokerage firm to buy ...
  6. Market Order

    An order that an investor makes through a broker or brokerage ...
Related Articles
  1. Understanding Order Execution
    Investing Basics

    Understanding Order Execution

  2. The Basics Of Trading A Stock
    Active Trading Fundamentals

    The Basics Of Trading A Stock

  3. Narrow Your Range With Stop-Limit Orders
    Investing Basics

    Narrow Your Range With Stop-Limit Orders

  4. Pinpoint Winning Trade Entries With ...
    Active Trading

    Pinpoint Winning Trade Entries With ...

comments powered by Disqus
Hot Definitions
  1. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  2. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  3. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  4. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  5. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  6. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
Trading Center