moomoo US Help Center-Market-on-Close order
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Help Center Trading in US Market Order Type Market-on-Close order

Market-on-Close order

A Market-on-Close (MOC) order does not need to specify a price and is submitted to execute as close to the closing price as possible.

 

Trading Hours

NYSE Rule: MOC orders must be received at New York Stock Exchange (NYSE) markets by 3:50 p.m. ET, unless entered to offset a published imbalance. NYSE markets' rules also prohibit the cancellation or reduction in the size of any MOC order after 3:45 p.m. ET.

NASDAQ Rule: MOC orders must be received at Island(Electronic Communication Network) by 3:55 p.m. ET, but may not be canceled or modified after 3:50 p.m. ET.

(*MOC orders will be submitted to other execution sources instead of exchange directly, so the deadline of order placement, order cancellation time, and order edit may be sometimes different due to the rules in different execution sources.)

 

Notes:

  1. If an MOC order is placed before the pre-market trading hours begin, the order will be queued for submission until the market opens. If an MOC order is placed during regular trading hours, the order will be directly submitted to the exchange. If an MOC order is placed after the market closes, the order will be queued for submission until the market opens and will then be executed as close as possible to the closing price on the next trading day.

  2. The execution of MOC orders depends on the exchange. Operations to place, edit, or cancel an MOC order may fail between 15:45 - 16:00 ET during the regular trading hours. To place, edit, or cancel an MOC order on the current trading day, we suggest that you submit the request before 15:45 ET.

  3. MOC orders cannot guarantee a fair execution price, especially under extreme market conditions.

  4. MOC orders are priced using the Current Price multiplied by the market order multiplier*, which we may adjust from time to time based on market conditions. Placing a MOC order will reduce your buying power, but once the order is filled or cancelled, the amount of buying power will be adjusted accordingly.

（*Market Order Multiplier: In cases where a market order is submitted, taking into account the fluctuation of stock prices, a certain percentage will be added on top of the current market price to avoid the risk of overbuying. This adjusted market price will then be used to determine the order amount, and the percentage added may be subject to change.）