Quote.Trade all-in execution at size
Quote.Trade returns a size-specific all-in executable price for an immediate bilateral IOC/FOK decision. The quote includes the execution spread and size/liquidity adjustment. Funding is a separate holding-period amount.
Spread convention
A buy quote 13 basis points above midpoint is 13 basis points from mid for that execution. A symmetric sell quote 13 basis points below midpoint produces a 26-basis-point full bid/ask width.
$1,000,000 one-way distance from mid at 13 bps = $1,300
symmetric unchanged-market round trip = $2,600The live quote is authoritative for the requested market, side, quantity, and time.
Same-size benchmark
For a $1 million comparison:
1. Synchronize the reference time and instrument. 2. Capture Quote.Trade's live $1 million FOK quote. 3. Execute an immediate $1 million taker order on the comparison venue. 4. Record the actual filled quantity. 5. Record total amount paid or received and the effective all-in execution price. 6. Add the actual taker fee and any applicable priority or transfer cost. 7. Record realized market impact, residual quantity, and completion time. 8. Compare funding over the same holding period.
A completed immediate taker execution is the comparison result. Displayed best prices and modeled depth are pre-trade reference inputs.
Report template
| Field | Quote.Trade | Comparison venue |
|---|---|---|
| Reference timestamp | ||
| Requested notional | $1,000,000 | $1,000,000 |
| Order behavior | FOK | Immediate taker |
| Filled notional | ||
| Total paid/received | ||
| Effective execution price | ||
| Distance from synchronized mid | ||
| Taker commission | Included in all-in quote | |
| Realized market impact | Included in all-in quote | |
| Residual quantity | 0 on completed FOK | |
| Completion time | ||
| Funding over equal holding period | ||
| Other applicable execution costs |
Verification
Quote.Trade execution is verified through the final order response, executedQty, total quote amount, order identifier, private ORDER_TRADE_UPDATE, and resulting account and position state.