The rules for MOC - LOC - NCIBAn MOC order is an unpriced order to buy or sell a security at the closing price and is guaranteed to receive an execution in the NYSE closing auction.
An LOC order sets the maximum price an investor is willing to pay, or the minimum price for which an investor is willing to sell, in the closing auction.
Subject to the block purchase exemption that is available to Suncor for regular open market purchases under the NCIB, Suncor will limit daily purchases of Suncor common shares on the TSX in connection with the NCIB to no more than 25% (2,497,868 common shares) of the average daily trading volume of Suncor’s common shares on the TSX during the previous six month period (9,991,475 common shares)