Discussion in 'Order Execution' started by Gordon Gekko, May 7, 2003.
I use IB. What can I do MOC orders for? Is it only certain exchanges or what?
do you mean straight to IB? or from TS?
To get the closing price in a listed stock is MOC is for. You would want to use it if you have access to imbalances. An example would be if there is a buy imbalance in a stock that you own already then you may want to sell it to get the closing print. The imbalance may make a spike or the price may be different than the current price that the stock is trading at vs the closing price.
While this is a valid strategy it is also somewhat overused...everybody sees the same imbalances. The big problem is its still a market order and the specialist can have his way with you just like bubba the prison trustee.
Edit = NYSE only
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