MOC Orders?

Lightningsmurf · Jul 22, 2002

I've seen several references to MOC orders recently. Could someone let me know what MOC stands for and a basic explaination of why it is useful (I saw S&P adjustments already).

I use TS6 but haven't seen any reference to MOC orders. The term is listed as a reserved word in the index. Is there any way to mimic MOC orders without having this specific capability?

Thanks for any (helpful) replies.

JayS · Jul 22, 2002

MOC stands for Market On Close

Don Bright · Jul 22, 2002

MOC = "Market (order) - on - Close" which simply gives the final price for the day to the order, buy or sell. These orders are used a lot by institutions, mutual funds, and the like....and by traders who know how to benefit from them. You can check the thread about S&P adds for a little more insight into how to use them.

Don

Thug_Life · Jul 22, 2002

I believe it's 3000 shares minimum?

Babak · Jul 22, 2002

1] would a MOO be the opposite? That is the first print from the specialist? Thanks.

2] 3000 shares min?! where did you get this?

rtharp · Jul 22, 2002

Originally posted by Thug_Life
I believe it's 3000 shares minimum?

The minimum is 100 shares

Robert

Thug_Life · Jul 22, 2002

I guess it varies by firm. That's why I used the question mark.

Don Bright · Jul 22, 2002

No minimums....and MOO ("market on open" is not what we do on the opening, we always use limit orders on the opening strategy...

Don

Babak · Jul 22, 2002

Don, yes I know (I lurk in you OO thread

)

What I mean to say was, if you want the opening print (like when you want to close a MOC from friday) you can do so by entering a MOO, right? Thanks.

cornholetrading · Jul 22, 2002

At what other times do these MOC orders really work well? You said earlier that you do these when institutions have good reasons to be buying and selling. What are a couple of other predictable circumstance that this would occur? Friday was a special circumstance with the index additions.