Tag

#Execution

16articles

From Best Price to Best Outcome: FIX-Powered Smart Order Routing Rules Brokers Actually Use

See how brokers use FIX to implement smart order routing with practical rule examples for spread, slippage, toxic flow, and LP quota management—without over-engineering execution.

April 19, 20266 min588

David Kovač

Chasing Microseconds? FIX Speed Won’t Save You From Bad Fills

Faster FIX sessions don’t fix slow fills. Here’s why routing logic, last look, and server geography decide execution quality—and what brokers should measure instead.

April 19, 20267 min560

Priya Desai

Stop Losing Fills: The FIX Session Lifecycle Checklist Every Broker Needs

A practical walkthrough of FIX session lifecycle mechanics—logon/logout, heartbeats, and sequence numbers—plus the failure patterns that cause brokers to miss fills and desync positions.

April 19, 20267 min550

David Kovač

Your Execution Stack Explained: Where FIX, Bridges, and PoPs Actually Sit (and What They Add to Latency & Cost)

Confused about FIX gateways, liquidity bridges, and Prime of Prime providers? Here’s how each component fits in the execution chain—and how fees and latency compound.

April 19, 20267 min583

Priya Desai

FIX Reject Storms: 12 Production 35=3 Errors and the 60‑Second Triage Playbook

A practical list of the most common FIX Session Reject (35=3) reasons brokers see in production—plus the fastest triage steps to isolate config, sequence, or counterparty issues.

April 19, 20267 min548

Priya Desai

The Hybrid Broker’s Playbook: When to Keep Flow In-House—and When to Send It Out

Hybrid brokers don’t pick A-book or B-book—they route by segment, symbol, and conditions. Here’s a practical framework to internalize safely and externalize intelligently.

April 19, 20266 min568

Noman Chaudhary

Stop Losing Fills in Translation: 10 FIX Tags Every Broker Should Audit Weekly

A practical guide to the FIX tags that drive execution, risk, and audit trails—what to log, how to validate, and the mistakes that break fills and compliance workflows.

April 19, 20267 min546

David Kovač

Your LP Agreement Isn’t ‘Standard’: 4 Clauses That Quietly Reprice Your Execution

Liquidity terms can silently shift risk and costs onto brokers. Here are four overlooked clauses—indemnities, data usage, A-book proof, and emergency spread rights—and how to negotiate them.

April 19, 20267 min547

Priya Desai

Why Your Crypto CFD Spreads Don’t Match Spot: The Liquidity Plumbing Brokers Must Design For

Crypto CFDs and spot crypto run on different liquidity rails. Learn how market structure impacts spreads, slippage, and hedging—and what to build into your broker or prop execution stack.

April 19, 20266 min930

David Kovač

The LP Contract Red Flags That Quietly Kill Your Execution (and How to Negotiate Them)

A broker-friendly checklist for negotiating liquidity agreements: credit limits, margining, last look, and termination clauses—so your execution stays stable as volume grows.

April 19, 20266 min551

Noman Chaudhary

Scalper-Proof Without Drama: A Broker’s Playbook for Tick Scalping Controls

Tick scalping can turn “tight spreads” into toxic flow. Here’s how brokers detect it, price it, or restrict it—while keeping execution policies clear and dispute rates low.

April 18, 20267 min566

Thomas Mueller

The LP Due Diligence Playbook: 25 Questions That Prevent Pricing & Execution Surprises

A practical due diligence checklist for assessing liquidity providers—pricing, last look, reject logic, credit terms, and support—before you sign.

April 18, 202613 min564

Thomas Mueller