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CSFB TWAP

Trading Term

The system trades based on the clock, i.e., on a two-hour order the system is 25% done after 30 minutes, 50% done after an hour, etc. Unlike VWAP Algo (Best Efforts), TWAP (time weighted average price) does not speed up or slow down based on projected volume or price moves. However, it does use smart limit order placement strategies throughout the order. For more information, see the TWS Users’ Guide.

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