Limit on Open Order

[jzamoras]

Hi All, I'm trying to build an automatic trading on open market.

My initial thought was to use two linked OCA orders, one buy limit order - no time in force - and one market order starting at 12:00 Eastern.

I saw that IB offer a Limit-on-open order. What there is the difference between this order type and use a plain limit order before the opening?

Thanks,
Jaime

 

[fader]

LOO is a fill or kill type order which gets entered into the opening auction and gets executed at the opening print. A limit order before the opening gets you executed only after the opening print has been "printed".