“A market-on-close (MOC) order is a non-limit market order, which traders execute as near to the closing price as they can—either exactly at, or slightly after the market close. The purpose of a MOC order is to get the last available price of that trading day.”

“On the New York Stock Exchange (NYSE), for example, traders must submit a MOC order by 3:45 p.m. EST, and on the Nasdaq, they must submit a MOC order by 3:50 p.m. EST, as both exchanges close at 4:00 p.m. EST. After those times, neither exchange allows traders to modify or cancel MOC orders.” – Investopedia

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