Determine which algorithm Minchow is likely to use for the Dynopax sell order.

Justify your response.

Minchow is also tasked to help EEP exit from a large position in a widely-traded blue chip stock. While the trade is non-urgent, given the position’s size, Bean is worried about telegraphing intentions to the market. Minchow discusses alternative trading systems with Bean, highlighting dark pools, and makes the following comments:
• Comment 1: A feature of a dark pool is that transactions and quantities won’t be reported.
• Comment 2: While a dark pool does provide anonymity, there is less certainty of execution.

Beatrice Minchow designs and implements algorithmic trading strategies for Enlightenment Era Partners LLC (EEP). Minchow is working with Portfolio Manager James Bean on an algorithm to implement a sell order for Bean’s small position in the lightly-traded shares of public company Dynopax Inc. In a conversation with Minchow, Bean states the following:
• I have no expectations of adverse price movements during the trade horizon and would like to use a scheduled algorithm.

• I want to minimize market impact, but I’m more concerned about getting the sell order completely executed in one day.

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Determine which algorithm Minchow is likely to use for the Dynopax sell order. (Circle one) POV VWAP TWAP Justify your response.