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Quantitative Finance · Glossary

What is Closing price, market-on-close and limit-on-close orders?

Also known as: closing price · market-on-close order · limit-on-close order

Definition 13.5 Markets I: The Ecosystem and Exchange-Traded Markets · Chapter 13 — Auctions

The closing price of a security is the price of its closing auction on its listing exchange. A market-on-close order (MOC) executes in that auction at whatever price it sets; a limit-on-close order (LOC) executes in it only at its limit or better.

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