SweepPI-ALGO

A SweepPI-ALGO order seeks to minimize market impact and price slippage. It removes dependence on extraneous parameters and settings, relying instead on a proprietary predictive model that works the order in an effort to obtain the best possible price.

• SweepPI-ALGO accepts decimal increments precise to two digits (that is, prices as fine as .01).
• SweepPI-ALGO is available for equities and single-leg options.
• SweepPI-ALGO orders actively seek price improvement and may rest at certain price levels. For this reason, orders may not execute immediately.

Order Durations

Day

Equity SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:00 P.M. Eastern.

Option SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:15 P.M. Eastern.

Unfilled orders and leaves expire at the end of the core trading session.

IOC (Immediate Or Cancel)

Equity SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:00 P.M. Eastern.

Option SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:15 P.M. Eastern.

Partial fills will be accepted.

Unfilled orders and leaves expire immediately.

FOK (Fill Or Kill)

Equity SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:00 P.M. Eastern.

Option SweepPI-ALGO orders may be entered between 9:30 A.M. and 4:15 P.M. Eastern.

Partial fills will not be accepted.

Unfilled orders and leaves expire immediately.

Order Behavior

• Model continuously evaluates relevant market centers to seek the best possible execution opportunities.
• Execution duration is based upon the real time liquidity and market activity of the security.
• Designed to handle orders in any size, sector, market capitalization, or average daily volume.