What is the advantage of market on close?

Discussion in 'Order Execution' started by cunparis, Aug 29, 2008.

  1. What is the advantage of market on close rather than just programming an order to execute a few seconds before the close?

    I ask because MOC has one disadvantage: you must put it in 20 minutes before close and you can't cancel it.

    So I figure there must be an advantage of people wouldn't use it.