market-on-close orders

[Adamus]

I just checked out InteractiveBrokers' order types, and they say that Market-on-Close orders are only for stocks and non-US futures.

Surprising, unless I'm missing something obvious.

Is there no way to enter and order to close a position at the close? Or is it just IB?

I thought this is what a lot of day traders relied on.

 

[arabianights]

just do a market order yourself

 

[dilesh23]

i've got a question about MOCs aswell , prob make me sound really stupid and confused, but here goes ....... if a lot of the big boys (IBs, etc) use the futures market to hedge their positions in the cash market.... does that mean that towards the close of the cash market if a large number of buy orders are coming that these people are holding large shorts in the cash market ?

 

[Adamus]

just do a market order yourself

Do it yourself? What if you've got positions in several markets?

I take it your answer implies that I'm correct: MOC orders don't exist on US futures markets?

Dilesh - what do you mean 'towards the close of the cash market'? Cash doesn't close. It just gets quiet for a while. Forex at least. Oh I think you mis-typed - you mean towards close of the futures mkt, don't you?

I don't know the answer though

 

[arabianights]

i've got a question about MOCs aswell , prob make me sound really stupid and confused, but here goes ....... if a lot of the big boys (IBs, etc) use the futures market to hedge their positions in the cash market.... does that mean that towards the close of the cash market if a large number of buy orders are coming that these people are holding large shorts in the cash market ?

Not necessarily the MOCs are usually mutual funds/unit trusts or whatever. FTSE MOCs on the future between 4:25 and 4:35 are great fun, I'd like to thank T_D for tipping me off to this.

 

[arabianights]

Do it yourself? What if you've got positions in several markets?

I take it your answer implies that I'm correct: MOC orders don't exist on US futures markets?

Dilesh - what do you mean 'towards the close of the cash market'? Cash doesn't close. It just gets quiet for a while. Forex at least. Oh I think you mis-typed - you mean towards close of the futures mkt, don't you?

I don't know the answer though

Dunno sorry I was in a bit of a bad mood - I've no idea which exchanges (if any) allow MOCs and which don't...

 

[baleantradercommunit]

This day MPC Boe and ECB decided to cut interest rates their central banks, not the responsibility of responsibility, its value is very significant, 100 basis points

2008, market become "kospi" in index market.

 

[dilesh23]

Not necessarily the MOCs are usually mutual funds/unit trusts or whatever. FTSE MOCs on the future between 4:25 and 4:35 are great fun, I'd like to thank T_D for tipping me off to this.

i think hes tipped a few others aswell i've heard from one of his collegues its an easy way to make a bit of extra drinking money before they go home for the day

 

[Adamus]

Hi Guys,
what's the story on this then? What makes it profitable - is there something about the close on the FTSE ?