The Minimize Impact algo lets you control your level of participation in the Average Daily Options Volume by setting a Max Percentage value, and attempts to minimize market impact by slicing the order over time to achieve a market average without going over your specified Max Percentage of Average Daily Volume.
The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.
|Time in Force
|Open Users' Guide