Basic Algorithm Example

The populated fields in the image below translate to the following:

Buy 500,000 shares in size increments of 200 every 25 seconds. Set the price to the current best bid, but don’t pay any more than the ask price. Let the algo run until it fills or is canceled.Wait for the current size component to fill before submitting the next increment, and if the algo falls behind schedule catch up in time by submitting increments immediately after a fill instead of honoring the time interval. Mix up the time intervals by adding and subtracting 20%, and make the order size less uniform by adding/removing 55% on each order, rounding to ensure no odd lots. If a large size order hits the market with a size of 200,000 or more and a price of 421.00 or better, take the entire offer without exceeding the original total order quantity or 500,000.