Terms starting with T

Tick

A single price change in a financial instrument, representing the smallest possible price movement recorded by the exchange or trading platform.

Time to Fill

The total elapsed time from order submission to complete execution, encompassing network latency, broker processing, LP response, and any routing delays.

Also: Execution Speed

Trading Pulse

A public metrics dashboard concept displaying real-time and aggregated trading data, such as volume, execution speed, and fill statistics.

Transaction Cost Analysis (TCA)

A post-trade analytical process that measures total execution costs including spread, slippage, market impact, and timing costs to evaluate execution quality.

Also: TCA

Transparency

The degree to which a broker publicly discloses its execution model, routing logic, pricing methodology, and performance metrics.

TwinCross FX

A proprietary FX execution engine by NDD that provides cross-connected liquidity matching across multiple venues for optimal price discovery.