What does "vwap" mean ??
You mean Denny's breakie is better than Maccas?
No Denny's around here.
Prefer Burger King's breakie.Ignored
VWAP = Volume-Weighted Average Price.
This allows traders to see the average price where they will receive a fill of a certain size. The feature is particularly helpful for high-volume traders who trade large deal sizes. As the liquidity tiers and pricing change very quickly on the Active Trader platform, it can be very difficult for a client to otherwise determine what their average price is.
With VWAP, a client can change the display of the price ladder to reflect the cumulative quantity available at a given average price. Thus, rather than seeing individual banks quoting in the price ladder one can see an aggregate amount of liquidity from multiple price providers.
For example: A trader wants to put through a trade of 5M, which is also the total amount of liquidity being offered at that time by three different providers. The VWAP feature will allow this trader to instantly see what the average price is for 5M. They can then make an informed decision on whether to decrease their trade size, or to place the trade based on that average price.
With VWAP, a trader can also choose to place an order for a certain amount of available liquidity by simply clicking on that price tier rather than having to specify the quantity.