We have launched 3 new U.S. market order types: Market Order, Market on Open Order and Market on Close Order.
An order placement with a defined quantity but no price. It will be traded at the best price currently available in the market.
Market on Open (MOO) Order
An order placement with a defined quantity but without a price. It is placed before a market is opened and will be executed at the Primary Market’s opening price for that day.
Market on Close (MOC) Order
An order placement with a defined quantity but without a price. It is placed during the market trading session and will be executed at the Primary Market’s closing for the day.
What are the benefits and risks?
- Immediate execution of trade
- Trades will be fully executed if there is sufficient volume in the market
- Buy market orders might have too high a price
- Sell market orders might have too low a price
- Lack of control of price precision
- Illiquid counters with large bid and ask spreads will have magnified risk
- Risk of overtrading
When can I place a market order?
A market order, MOO order and MOC order can only be placed 80 minutes before the start of a market session and up till the stipulated time for each market. The purpose is for better risk management as the pre-market prices indicated then will be a better and more accurate reflection of the asset price at open. Any order placed earlier will be rejected and you will need to replace them while adhering to the stipulated time.
Times stated above reflect Singapore Time, bracketed timings reflect Daylight Savings Time.
Other facilities available to help in your U.S. trading journey:
Complimentary LIVE price quotes for US markets!*
View listed companies data with Stock Analytics!
FREE technical analysis with POEMS Chartwhiz!
Keep Multi-Currency balances in your account!