OrderType=Mkt on Clo valid with TIF=DAY only?

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Imported from previous forum

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[ original email was from Joanne Keane - keane@susq.com ]
When entering an order with Close orders, is it valid to use TIFs other than DAY?

Does it make sense from a business perspective?

Thanks in advance !
Joanne

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[ original email was from Ryan Pierce - rpierce@taltrade.com ]
> When entering an order with Close orders, is it valid to use TIFs other than DAY?
>
> Does it make sense from a business perspective?

It really doesn’t make business sense, and it should not be done because it can’t be supported in spec versions newer than 4.3.

FIX 4.3 makes the Market on Close, Limit on Close, and On Close OrdType’s deprecated. In 4.3 you should send OrdType=Market TimeInForce=At the Close.