Market-On-Close Order - MOC

AAA

DEFINITION of 'Market-On-Close Order - MOC'

A non-limit (market) order executed as close to the end of the market day as possible. All market on close (MOC) orders must be submitted by 3:45pm on the NYSE and by 3:50pm EST on the Nasdaq. Neither exchange allows for the modification or cancellation of MOC orders after those times.

Also known as an "at-the-close order."

INVESTOPEDIA EXPLAINS 'Market-On-Close Order - MOC'

This is an order entered sometime during the day that grants discretionary power to the trader, so that, as near as possible to the end of the trading day, a market order will be executed. MOC orders are sometimes used as a limit order qualifier, making the limit order a MOC order if the limit wasn't reached earlier in the day. In addition, MOC orders allow investors to buy or sell a stock that might move drastically before the next morning's open - perhaps as the result of a known after-hours earnings announcement or news story. On the negative side, some traders believe that MOC orders, by virtue of the buying/selling pressure they create, cost traders a tick or two.

RELATED TERMS
  1. Buyers/Sellers On Balance

    1. A ratio based on aggregate market orders for securities that ...
  2. Aged Fail

    A contract between two broker-dealers that has not been settled ...
  3. At-The-Close Order

    An order specifying that a trade is to be executed at the close ...
  4. Inside Quote

    The best bid and ask prices offered to buy and sell a security ...
  5. Day Order

    An order to buy or sell a security that automatically expires ...
  6. Liquid Market

    A market with many bid and ask offers, low spreads and low volatility. ...
Related Articles
  1.  These are the two main types of trades that investors will encounter: principal and agent transactions.
    Investing Basics

    Principal Trading and Agency Trading

    Ever wonder what happens behind the scenes when you buy or sell a stock? Read on and find out!
  2. Investing Basics

    Understanding Order Execution

    Find out the various ways in which a broker can fill an order, which can affect costs.
  3. Active Trading Fundamentals

    The Basics Of Trading A Stock

    Taking control of your portfolio means knowing what orders to use when buying or selling stocks.
  4. Brokers

    How long does it take a broker to confirm a trade after it is placed?

    Learn about placing trades with a broker and the amount of time required to received confirmation of different types of orders, such as limit and stop-loss.
  5. Trading Systems & Software

    How do you know if a trade placed to a broker is confirmed?

    Learn how to check if trades placed with brokers online or over the telephone have been filled and confirmed. Explore different types of orders.
  6. Active Trading Fundamentals

    What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within certain present limits.
  7. Trading Strategies

    Patience Is A Trader's Virtue

    Waiting may be the biggest key to reeling in that trophy investment.
  8. Investing Basics

    Narrow Your Range With Stop-Limit Orders

    With stop-limit orders, buyers protect themselves from prices too high for their tastes.
  9. A trailing stop is an order to buy or sell a security if it moves in an unfavorable direction.
    Trading Strategies

    How to Use Trailing Stops

    A trailing stop is an order to buy or sell a security if it moves in an unfavorable direction.
  10. Active Trading

    Pinpoint Winning Trade Entries With Filters And Triggers

    These tools will help you enter at high-probability points and ensure you trade within your set strategy.

You May Also Like

Hot Definitions
  1. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  2. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  3. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  4. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  5. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
  6. Law Of Supply And Demand

    A theory explaining the interaction between the supply of a resource and the demand for that resource. The law of supply ...
Trading Center