VWAP: Volume Weighted Average Price uses dynamic volume profiles to achieve the volume-weighted average price.
TWAP: Time Weighted Average Price equally distributes the order volume over the desired period of time.
POV: Percentage of Volume is a liquidity-seeking participation strategy. The algorithm tracks volume and executes the order at the prescribed rate.
Dark: Dark seeks liquidity in non-displayed venues, the strategy has the ability to source liquidity anywhere in between the NBBO using a combination of pegging, posting, sweeping, and conditional order types.
Liquidity Seeker: Liquidity Seeker is an aggressive algorithm that snapshots the depth of market and polls and displayed and non-displayed venues with orders that both actively and passively seek liquidity.
10b-18: Our Corporate Buyback Utility assists the trader in governing the execution of a corporate buyback by conforming to the price and timing rules set by the SEC’s Rule 10b-18 safe harbor. 10b-18 rules can be activated within our VWAP, TWAP, and POV algorithms.
Auto AP: Auto AP Price allows user-defined layering of multiple strategies and participation rates around trader-defined prices. The algorithm tracks the current price and compares it to the various associated prices (arrival price, decision price, and own it price) and changes to the appropriate strategy.