Can I submit a Market-on-Close (MOC) order on the LSEETF market?

A paper trading account is a simulated account trading in a simulated market. IBKR programmatically simulates, to the best possible abilities, actual market conditions. However, it is not a real market, and in some instances prices may not exactly match. IBKR is simulating not only the trader’s functionality and the market, but also the role of the exchange. In a real, live account, the order would be sent to the exchange, and the exchange would be doing the execution—not IBKR…

Overview:

A paper trading account is a simulated account trading in a simulated market. We programmatically simulate, to the best possible abilities, actual market conditions. However, it is not a real market and prices cannot exactly match. We are simulating not only the trader’s functionality and the market, but also the role of the exchange. In a real, live account, the order would be sent to the exchange, and the exchange would be doing the execution—not us. The exchange has an anonymous book and orders are matched anonymously. With the simulated account we are trying to simulate the role that in the real markets is played by the exchange. While these fills may or may not be within the bounds of the live market at the time, in no way is it indicative of what would happen in the real market. Again, we are simulating the exchange’s role in the live market, and in that market the onus for order matching/filling is on the exchange…

The Market-on-Open (MOO) order type is available for some exchanges, but not all. Please visit the IBKR website to see the full list of supported Exchanges. Please note that Nasdaq MOO (and LOO) orders must be submitted prior to 09:28 ET, and that MOO orders for options must be directed to an exchange that supports this order type…

An Adaptive Algo order works by default with destination SMART and cannot be direct routed to an exchange.

More information on the Adaptive Algo can be found on our website…