What is Market On Close (MOC)?

Market on close (MOC) is a market order that is executed at the latest possible time during a trading session.

How Does Market On Close (MOC) Work?

When a trader receives an MOC from a client, that trader may enter the order as late as he or she believes possible before the close of trading for that day. For example, if the market closes at 4:00 p.m. and a trader has an MOC that will take five minutes to fully execute, the trader will likely choose to execute it at 3:54 or 3:55 p.m.

Why Does Market On Close (MOC) Matter?

Investors submit MOC orders based on the belief that a security will experience a substantial increase or decline in value toward the end of trading session.