Order Execution Strategies

What are Logical Participation Strategies ? 

Logical Participation strategies are protocols for breaking up the order in chunks for execution over time.

Some simple logical participation strategies are :

1. Volume Weighted Average Priec (VWAP ) Strategy : It involves breaking up the order over time according to a pre-specified volume profile. The main goal is to match the VWAP for the day. 
2. Time Weighted Average Price (TWAP) Strategy : It is useful for thinly traded assets whose volume patterns may be erratic. It breaks up the order in proportion to time. If based on past trades, this strategy can be reactive, whereas, if based on dynamic forecasts this strategy can be proactive. 
3. Percentage of Volume