We concentrate on an asteroseismological study of HD 261711, a rather hot delta Scuti type pulsating member of the young open cluster NGC 2264 located at the blue border of the instability region. HD 261711 was discovered to be a pre-main sequence delta Scuti star using the time series photometry obtained by the MOST satellite in 2006. High-precision, time-series photometry of HD 261711 was obtained by the MOST and CoRoT satellites in 4 separate new observing runs that are put into context with the stars fundamental atmospheric parameters obtained from spectroscopy. With the new MOST data set from 2011/12 and the two CoRoT light curves from 2008 and 2011/12, the delta Scuti variability was confirmed and regular groups of frequencies were discovered. The two pulsation frequencies identified in the data from the first MOST observing run in 2006 are confirmed and 23 new delta Scuti-type frequencies were discovered using the CoRoT data. Weighted average frequencies for each group are related to l=0 and l=1 p-modes. Evidence for amplitude modulation of the frequencies in two groups is seen. The effective temperature was derived to be 8600$pm$200 K, log g is 4.1$pm$0.2, and the projected rotational velocity is 53$pm$1km/s. Using our Teff value and the radius of 1.8$pm$0.5 Rsun derived from SED fitting, we get a log L/Lsun of 1.20$pm$0.14 which agrees well to the seismologically determined values of 1.65 Rsun and, hence, a log L/Lsun of 1.13. The radial velocity of 14$pm$2 km/s we derived for HD 261711, confirms the stars membership to NGC 2264. Our asteroseismic models suggest that HD 261711 is a delta Scuti-type star close to the zero-age main sequence (ZAMS) with a mass of 1.8 to 1.9Msun. HD 261711 is either a young ZAMS star or a late PMS star just before the onset of hydrogen-core burning.