Just diving in here.....was the last tick a legal uptick....?? You said you were shorting......?? Don
MOC orders may be accepted after 3:40p.m. EST only if entered to offset a published imbalance. I think the rule is you can not enter any cancels of MOC orders after 3:40
I think the rule is 20 minutes before the close to submit an order or cancel an open MOC order. Then you have 10 minutes (3:40 - 3:50 EST) to ask for an out if based on some legit reason (e.g wrong symbol), emphasize "ask." No outs are given during the last 10 minutes before the bell. Order imbalaces can be entered without time limits when allowed.
After 3:39 :59 NYSE time you may not Enter or Cancel any MOC orders. According to NYSE handbook. An old trick to get around this .........enter an opposing order right on the bell!
not true. you can enter MOC orders after 3:40 if they are on the opposite side of the imbalance. for example, for a buy imbalance you can enter sells and shorts after 3:40.
I'm a CyberTrader Pro user and I put in (before 3:40pm ET) alot of MOC orders for NYSE stocks. Using CyberTrader 3.5, I could cancel the MOC orders, even in the last 5 minutes. Now with the new CyberTrader 4.0 version, looks like the software rejects the cancel order without even asking the specialist. I was under the impression that the specialist could let you cancel the MOC order. What's the rule??? Thanks...
My understanding is that you cannot cancel an MOC order after 15:40 (B/D and Institutional). As a customer of a brokerage firm, you may be able to cancel based on your standing as a customer with that Firm. (Don't hold me to this, as things do change often). Don
Don: It is a NYSE rule that you may not cancel an MOC order after 3:40. You can be Paul Tudor Jones and you will get the same treatment. If you want to enter an MOC order on the opposite side of the imbalance you may until the bell. I called my friend who is a floor broker. A straight limit order during the regular trading session takers precedence over a short order, so there will be stock ahead at times. If the stock ticks on a minus tick, all of the limit orders will be on the book ahead of you now, even with a market short. The NYSE rulebook for members can be obtained very easily. ebo