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VWAP Debate Divides the Trading Industry

Traders Magazine, November 2005

Gregory Bresiger

Guaranteed Volume-Weighted Average Price trades, in the wake of regulators' investigations, are coming under heavy fire by brokerage execs and academics. "We encourage closer scrutiny and examination of these trades," Brian Devere, director of sales for Piper Jaffray's Algorithm and Program Trading group, told Traders Magazine. "We've long questioned how some of our competitors do these transactions at close to zero," he said.

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