End of Day

End of day (EOD), end of business (EOB), close of business (COB) or close of play is the end of the trading day in financial markets, the point when trading ceases. In some markets it is actually defined as the point in time a few minutes prior to the actual cessation of trading, when the regular traders' orders are no longer received. During this period, the market is performing what is called a "Run To Cash", which is when the market is reconciling to its underlying cash market. End of the day in the U.S. is usually at 11:59 pm and 59 seconds but typically 5:30 pm in the United Kingdom.