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IS

It stands for implementation shortfall; a measure of trading inefficiency- i.e., it measures the cost of trade implementation. For purchases...

Whisper

A trading algorithm (algo)- specifically, a pegging algorithm- that can passively capture price spread by having access to a venue's...

Price Capture

A trading algorithm that capitalizes on minimization of implementation shortfall (IS). To that end, it balances the trade-off between market...

Capture

An algorithm (trading algorithm) that seeks liquidity at multiple levels of trading urgency. Traders using a capture (as a liquidity...

I Would

A parameter that is used and applied to orders and algorithms (trading algorithm) that defines a user's state of action...

Dark Would MAQ

A minimum acceptable quantity (MAQ) order that is subject to "I would" levels to finish the order at a user-specific...

Lit Would MAQ

A minimum acceptable quantity (MAQ) order that is subject to "I would" levels to finish the order at a user-specific...

Would MAQ

A minimum acceptable quantity (MAQ) order that is subject to "I would" levels to finish the order at a user-specific...

Ninja

A trading algorithm (algorithmic trading tool) that is used to increase liquidity access through all types of available venues while...

Light Pool Market

A type of market or stock exchange setting (ECN) where the order book (e.g., securities and price levels) is made...