Pros & Cons of NYSE Closing Auction D-Quote Orders

Hey Guys,

I see an option for Closing D Order Entries that can be placed up until 3:59:50

Can any one please inform me on what the disadvantage of a D Quote order is compared to a MOC order and vice versa.

Other than a Floor broker executing a D Quote order, what is the difference between this and a MOC?

Thanks for any info!

 

https://www.interactivebrokers.com/en/index.php?f=4103

Google

 

Placement until 3:59:25 only, big difference.

 

Why wouldn't everyone use this order if it can be modified later?

Is it because of higher fees and not being guaranteed a fill?

 

No cancel/modify after 3:59:25 and yeah, missing a fill is a big issue for most.

 

Commissions are pretty high on these too.