ConceptIntermediate
Execution Quality
An aggregate measure of how well trades are executed, factoring in speed, price improvement, fill ratio, and slippage.
Last updated: February 1, 2026
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Execution quality is measured across multiple dimensions: price, speed, fill rate, and slippage.
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Each trade generates data points that contribute to aggregate quality metrics.
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Quality is evaluated relative to available market conditions at the time of execution.
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Best execution frameworks weight these factors according to order type and client profile.
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Ongoing monitoring ensures quality is maintained and not just a snapshot metric.