Suite of Algorithms
Available as a turnkey solution, Penson Algorithmic Routing (PAR) is a suite of algorithms which provides our clients with access to benchmark and sophisticated order handling functionality.
Strategies currently include:
  • VWAP – Volume Weighted Average Price
  • Arrival Price – Utilizes the time an order is initiated as the benchmark
  • TWAP – Time Weighted Average Price
  • POV – Percentage of Volume
  • Pairs – Trades two different stocks simultaneously
  • Buyback – Used for company initiated buyback programs that adheres to compliance rules
  • Take – Uses immediate or cancel orders to search for hidden and posted liquidity without leaving a footprint
  • Custom – Work with us and our team of quantitative analysts to develop custom solutions for your or clients’ trading