MetricIntermediate
Rejection Rate
syn. Reject Rate
The proportion of submitted orders that are rejected by the broker or liquidity provider before execution.
Last updated: February 1, 2026
1
A client submits an order to the broker.
2
The broker routes the order to an LP or internal matching engine.
3
The LP may reject the order for various reasons: stale price, insufficient depth, risk limits, or last-look decision.
4
The rejected order is returned to the client with a rejection notice.
5
The rejection rate is calculated as rejected orders / total submitted orders over a period.