An algo that seeks out the broker algo or a set of broker algos that would best suit the needs of a client. In other words, the criteria of a meta algo may be defined by a client or in agreement with his/ her broker so that to meet a number of requirements. Meta algo come in handy at times a client is not sure which algo to pursue in implementation of a specific strategy or market positions. A meta algo will help determine the best algorithm(s) to do a specific task (participate, close, match, best price determination, etc.)
April 23, 2023
