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

To: Rob W who wrote (3672)	3/25/2001 12:40:48 AM
From: LPS5	Read Replies (1) \| Respond to of 4443

So does time slicing actually occur Yes. Did you think this was a theoretical concept? It's a standard order type. It describes an execution strategy whereby an order is filled within a (sometimes) customer designated time period at regular intervals in pieces. An example would be an order to buy 250,000 shares of stock XYZ. Order in hand, once the sellside desk had ascertained (a) whether or not this was entire order (i.e., there wasn't more stock "behind it,") and (b) whether or not the client had a specific time horizon to completion in mind, the desk might choose to time slice the order. A simple example would be to buy 5,000 shares at the market every 30 minutes until the order was filled. A more aggressive desk might have an approach to time slicing whereby they would take as many shares as they could every 30 minutes until the stock showed signs of impact. Yet another would be sticking with the 5,000/30 min guideline, but with the caveat that if the stock was to experience a sudden breakout, north or south, the trader acting on behalf of the institution (depending upon his familiarity with the issue) might heighten, or reduce, his aggressiveness. LPS5