Published on: 2026-06-22
Source: Moscow Exchange –
An important disclaimer is at the bottom of this article.
Since June 22, 2026, the Time Weighted Average Price (TWAP) algorithmic trading service has become available on the Moscow Exchange stock market, which allows a specified volume of buying/selling an asset to be evenly executed over a selected time interval. The TWAP algorithm minimizes the impact of a large order volume on the current price by distributing the executed volume over time and neutralizes the possibility of the algorithm’s execution being analytically determined in comparison with an iceberg order.
TWAP orders are available in the “Main trading mode T+” (TQBR) for shares and depositary receipts. Orders can be submitted through the MOEX Trade SE terminal or the gateway interface for service connections.
The presentation with features of the algorithmic application execution is available at the link:https://www.moex.com/files/474kvec806ddp53zp83d0p225n.
The XML report structure on the execution of TWAP orders (SEM02, SEM03, SEM42, SEM102, SEM122) is available at the link:https://www.moex.com/ru/documents/943.
Please note; this information is raw content, obtained directly from the information source. It represents an exact report of what the source claims, and does not necessarily reflect the position of MIL-OSI or its clients.