Aquis Exchange PLC today announced the upcoming launch of Aquis VWAP Match (AVM).
AVM will operate as distinct non-displayed order books on the Aquis UK and EU MTFs where members will be able to enter conditional indications of interest (IOIs) to cross orders at the 5-minute Volume Weighted Average Price (VWAP), calculated from trades on lit continuous reference markets.
Scheduled for launch in Q1 2025 pending regulatory approval, AVM builds on Aquis’ successful launch of conditional order types in early 2024. The combination of conditional orders with being able to trade at a VWAP, makes the AVM order type a useful option for orders that are less latency-sensitive, seeking to smooth out the effects of price volatility over a period of time and further minimise market impact.
Unique to AVM, client-facilitating…
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