Fox Spotlight™

An ETF-only strategy designed to minimize market impact. This algorithm is designed to assess market impact and if orders are a large percentage of ADV (average daily volume), the strategy will attempt to minimize impact while completing the order. Aims to execute large orders relative to displayed volume. Dynamic and intelligent limit calculations to minimize impact.

Field Name	Description	Valid Values/ Default Value
Effective Time	Optional. Set the time to begin the order.	Between market open and market close, and prior to Expire Time (if set). Defaults to immediately.
Expire Time	Optional. Time/date for the order to expire.	Between market open and market close, and after Effective Time (if set). Defaults to market close if not set.
Dollar Certain Limit	Optional. The maximum acceptable dollar amount of the trade, including Dollar Certain Commission. Used to trade by dollar amount.	>0
Dollar Certain Commission	Optional. The commission cost on a cents-per-share basis, e.g. 0.1 = 1 cent	>0
Dollar Certain Execution checkbox	Optional. Check to determine the order quantity by dollar value. Must be checked for other "Dollar Certain" fields to be valid.	If checked, Dollar Certain Limit at least must be defined.