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Market-on-Close Order
(redirected from Market on Close Order)

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Market-on-Close Order
An order to buy or sell a security at the best price available as close as possible to the closing of an exchange.


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The Market on Close order is done within minutes of the market closing.
Cushing and Madhaven empirically analyze the behavior of stock returns at the market close for stocks of the Russell 1000, using both transaction-level data for June 1997 to July 1998 and the complete record of all market on close order imbalance indications issued by New York Stock Exchange specialists.
The TargetClose strategy allows users to trade outsized orders benchmarked to the close that otherwise might create undue pricing impact if sent with a Market on Close order.
 
 
 
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