Free Site Registration

A Front-Running Smile?

Traders Magazine, May 2005

Steve Brain

One morning, prior to the open of the equity markets, a trader received an order from his portfolio manager to buy 150,000 shares of a mid-cap stock. The trader was benchmarked to the volume weighted average price, so he was looking to match the VWAP on that day. This buyside professional chose to use the VWAP algorithm his largest broker had just given him, rather than show his hand and pass along the order to another broker.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?