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    Limit-On-Close (LOC) Orders

    That's not the weirdness I'm referring to (the last paragraph) - the previous paragraph mentioned that you might get filled much better than the limit price on an LOC is what I mean. For a regular LMT order, in continuous markets, it's rare to get filled better than the limit price. With an...
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    Limit-On-Close (LOC) Orders

    Yes, I knew about MOC orders. I understand that LOC orders are just like any LMT order (price prioritized over fill). What's strange about LOC orders over regular LMT orders (in a continuous market) is, you could actually get filled (much) lower than your limit price (check the example above)...
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    Limit-On-Close (LOC) Orders

    Yes, that's what I suspected. Thanks for the sanity check.
  4. E

    Limit-On-Close (LOC) Orders

    Does anyone know how LOC orders work? Suppose I post a LOC buy order for 99 and the market closes at 97. Which of the following can I expect to happen? I get filled at 97. I get filled somewhere between 97 and 99. I get filled at 99. If my size is much smaller than the liquidity provided for...
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