NO.PZ202110280100000501
问题如下：
Determine which algorithm Minchow is likely to use for the Dynopax sell order. Justify your response.
选项：
解释：
Regarding Bean’s alternatives, VWAP and TWAP algorithms release orders to the market following a time-specified schedule, trading a predetermined number of shares within the specified time interval (e.g., one day). Following a fixed schedule as VWAP algorithms do, however, may not be optimal for certain stocks because such algorithms may not complete the order in cases where volumes are low. Furthermore, while POV algorithms incorporate real-time volume by following (or chasing) volumes, they may not complete the order within the time period specified.
TWAP algorithms, which send the same number of shares and the same percentage of the order to be traded in each time period, will help ensure the specified number of shares are executed within the specified time period. Given Bean’s stated priority of complete execution in one day, he is likely to use a TWAP algorithm for the Dynopax sell order.
可以不？Minchow is likely to use TWAP algorithm for the Dynopax sell order
he expected market is non trending, which is suitable for scheduled algorithm.
the sell order is small and lightly-traded, which has a minimized market impact if trading through the day.
he wanted to execute sell order completely in one day. TWAP is most suitable. the others may not be executed completely in one day.
