Nasdaq Closing Cross Explained: NOII and MOC
How the Nasdaq closing cross works: MOC and LOC cutoffs, imbalance-only orders, the NOII feed from 3:50 p.m., and one real 4:00:00 print read off the tape.
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What Is the Closing Auction? (Closing Cross)
What the closing auction is, why one 4 p.m. print sets the official close, and how market-on-close orders feed the day's biggest trade, on real tape data.