Market-On-Close (MOC)

Non-limit market orders that traders execute as closely as possible to the closing price—either precisely at or just after the market close. Obtaining the final price of that trading day is the goal of a MOC order. MOC orders are not offered by all brokers or in all markets. Traders must place a MOC order by 3:45 p.m. EST on the New York Stock Exchange (NYSE) and by 3:50 p.m. EST on the Nasdaq, as both exchanges close at 4:00 p.m. EST. Both exchanges prohibit traders from changing or canceling MOC orders after those specified times.