Business, Legal & Accounting Glossary
An at the close order is either a market order or a limit order which is executed just prior to the close of trading for the day. With an at the close market order, the broker is instructed to buy or sell shares at the best price available just before or at the close of the trading day. With an at the close market order, the investor agrees to accept the best price available at the close, whatever that price may be. With an at the close limit order, the broker is instructed to buy or sell at the close of trade for the exact price (or better) specified by the trader. If this specific price is not available at the close of trade then the order is automatically cancelled.
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This glossary post was last updated: 4th February, 2020 | 4 Views.