Pros & Cons of NYSE Closing Auction D-Quote Orders

Discussion in 'Order Execution' started by jayr95241, Dec 30, 2019.

  1. 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!
  2. 2rosy


  3. d08


    Placement until 3:59:25 only, big difference.
  4. 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?
  5. d08


    No cancel/modify after 3:59:25 and yeah, missing a fill is a big issue for most.
    jayr95241 likes this.
  6. Commissions are pretty high on these too.