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Partial Order

An order that can be filled partly rather than in its entirety. In other words, such an order involves the...

Toxic Pool

A market trading platform (pool) in which the quality of execution (toxicity) in a venue tends to be worse. This...

Price Improvement

The process of filling (or executing) an order at a better price than the best market bid and offer (e.g.,...

Fill Rate

The rate at which orders are filled or executed by a given exchange/ venue at a specific time or within...

Partial Fill

An order that is not completely filled, i.e., it is partially executed. This means that only a part of the...