ProcessPro
Waterfall Routing
A sequential order routing strategy that sends an order to the top-ranked LP first, and if rejected, cascades to the next LP in priority until filled or all options are exhausted.
Last updated: February 10, 2026
1
LPs are ranked by priority (based on historical fill quality, pricing, speed).
2
When an order arrives, it's sent to the #1 ranked LP first.
3
If the #1 LP rejects or doesn't respond within a timeout, the order cascades to #2.
4
This continues down the waterfall until the order is filled or all LPs are exhausted.
5
After each rejection, latency increases as the order moves down the cascade.