If i am using MOC

F

Fishbird

= Market on close, do i get the closing print or some other price that the mm likes?
I see often prints way of the current price shortly before the close. Has this something to do with it?

What is your experience with this order kind?
 
Quote from Fishbird:

= Market on close, do i get the closing print or some other price that the mm likes?
I see often prints way of the current price shortly before the close. Has this something to do with it?

What is your experience with this order kind?
More...

MOC on NYSE will give you the closing print price.


Don
 
Yes, I'm not even sure that there is a specific order type called "Market on Close" - they have a crossing session I believe.

Don
 
Yep you are right.
On NYSE a pit-guy handles the order and makes the closing print.

On Nasdaq, if not routed to Amex, the moc order is simulated by broker who submits a market order at 3:59:58 or so.
http://individuals.interactivebrokers.com/en/trading/orders/moc.php?ib_entity=llc

Amex trades most nasdaqs so they can be used for moc it looks.
Question is if they provide fair executions or rip people off.
Heard not the best things about their behavior.

So im back to step one :)
Is a moc on Amex useful or better left alone.
 
nasdaq does have native built-in moc order type. take a look at nasdaq website. the moc on nasdaq takes account of orders submitted in the moc order type plus limit orders in the book at the market close.
 
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