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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (3659)	3/24/2001 11:39:55 PM
From: Rob W	Read Replies (1) \| Respond to of 4443

LPS5, I generally just look at eVWAP as a single tool within an array that might serve some purpose. In this case say a percentage of shares that a trader for whatever reason may wish to secure a VWAP price for. Again, say it is just 10% of total shares where there is a desire of obtain a vwap price. Compared to time slicing, I was wondering if another point could be made on behalf of eVWAP. If time slicing means sending market orders into the market at certain intervals, then it would seem that timing slicing vwap would somewhat mirror the average of all sales, in the case of those trying to sale at the vwap, or the average of all buys, for those trying to buy at the vwap. For instance, say the bid was 100 and the ask was 100.12. If only 3 trades were made of 100 shares each at the bid and ask, then the regular way sells and buys would be $100 and 100.12 respectively. However, a seller at eVWAP would receive a price of 1.06 and the buyer would pay 1.06. Anything to this in terms of eVWAP pricing maybe being superior to obtaining a vwap via time slicing? Thanks.