The LMNO trade is of small relative size (120,000 / 2,000,000 = 6%), has a small spread, and has high urgency. It should be traded quickly using an implementation shortfall strategy.
Furthermore, an implementation shortfall strategy trades a large volume early in the day, thus stock LMNO is suitable and stock FGHI is not suitable for an implementation shortfall strategy.
The trade for stock WXYZ is relatively small (30,000 / 900,000 = 3.3%) and the spread is low. The WXYZ trade is of low urgency and can be traded over time. It is thus suitable for a simple participation strategy based on VWAP or other benchmark
