Orders & execution
What is a Limit-on-Close (LOC) order?
By Easy Money Scanner · Educational reference · Not investment advice
The short answer
A Limit-on-Close (LOC) order combines the closing auction timing of an MOC order with a specified limit price, executing at the close only if that price constraint can be met.
How it works
LOC orders give traders closing-price exposure while protecting against an unfavorable final price, unlike an MOC order which executes regardless of price at the close.
An example
A trader submits an LOC order to sell at $60 or better; if the closing auction price comes in below $60, the order does not execute.
Risk & limitations
An LOC order may not execute at all if the closing price doesn't meet the limit, leaving the position unchanged going into the next session.
Examples are hypothetical, not trade recommendations. US contract and regulatory references do not automatically apply in Canada. Rules, margin requirements and broker policies can change; confirm them with the relevant authority and your broker.