Question

When creating a TWAP Execution Algo, I can choose between maker, taker and mix order types. What is the difference?

Answer

The TWAP algo offers options to execute as a Maker, a Taker, or using mixed order types.

A Maker order is a placed order that is not executed immediately and is entered into the order book. A Taker order is a placed order executed immediately by a response order in the order book. Taker orders execute immediately at current market prices. Mix order type consists of both Maker and Taker orders, with individual orders assigned to either order type with an even probability.

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