Time Variant Percentage of Volume Strategy

This algo strategy allows your order to work more aggressively at the start and less aggressively towards the end, or vice versa. It lets you participate via volume at a user-defined rate that varies with time based on the initial and terminal participation rates that you specify. The algo will then calculate the rate of participation between the start and end times.

To submit a Time Variant Percent of Volume Order

1. Set up the order in the Mosaic Order Entry panel.

2. From the LMT type field, select IBALGO and then select Time Variant Percentage of Volume.

3. Complete the algo parameters and click Submit to send the order.

Initial Target Percentage of the average volume to start off the order. Enter "1" for 1% etc.
Set the Terminal (or ending) Target Percentage of the average volume to end the algo. The system will calculate the target percentage rates between the initial and terminal rates as the algo progresses.
Specify a start and end time if needed. Otherwise the algo will start when you transmit the order and end at the market's close.
Attempt to never take liquidity - If checked the order is guaranteed not to hit the opposite side, and it will trade at a price better or equal to the limit price.

For more information on IBAlgos, see the IB Order Types and Algospage.