US Equities- Guaranteed MOC & MOO Prices

Discussion in 'Order Execution' started by CPTrader, Jan 3, 2009.

  1. How can one achieve on a guaranteed basis the open price via a MOO order and the closing price via a MOC order in USA equities.

    In essence if iBm opens at 100 and closes at 101 and I place a Buy MOO/Sell MOC order I want to ensure that I get filled at 100 for the buy side and get filled at 101 for the sell side. How can I achieve this.

    Thank you.
  2. For NYSE listed stocks, send MOO order before 9:30am, MOC order before 3:40pm direct-to-market (NYSE), and you will be 100% filled.

  3. Thank you. A few questions please.

    1. Will my fills be at the open and closing price.

    2. How do I route this order via the electronic platforms to ensure proper fills.

    3. What do I do for NASDAQ orders?
  4. 1. With MOO/MOC you'll get filled at the open/close price. The order imbalance will sweep the book or the specialist (DMM) will step in and provide liquidity.

    2. Depends on the platform. Just choose NYSE or another destination that you know will re-route LOO/MOO/MOC/LOC orders to the stock's primary exchange. Keep in mind, that OPG orders are specified as TIF, and on-close orders as OrderType.

    3. Sorry, I trade NYSE stocks only. NASDAQ gurus, please fill in.
  5. Thank you speculatus
  6. Can someone please provide advice regarding NASADQ MOC/MOO orders??

    Thank you very much.
  7. trom


  8. chartman


    Can someone please provide advice regarding NASADQ MOC/MOO orders??


    You would not be assured of receiving the opening/closing price. However, the only way you would not be filled
    at the opening/closing price would be if the threshold was reached for price movement.
  9. mpiker


    MOC/MOO orders for nasi's can be routed to Supermontage.
    #10     Feb 26, 2009