Execution & Order Audit
Coming SoonRoute /dashboard/orders · Flag enableOrderAudit
Order audit makes execution realistic and accountable. Close-price fills overstate statistical-arbitrage returns; this module models fills, fees, and financing, ingests real broker fills, and keeps an append-only record of every order's lifecycle so cost can be attributed honestly.
Execution realism
The Strategy SDK already defines fill, fee, and margin model primitives. This module turns them into a concrete cost-attribution pipeline so paper and live results reflect what trading actually costs.
- Fill model — estimated fill prices and partials instead of an idealized close.
- Fee model — commissions and exchange fees.
- Margin/financing model — borrow cost on the short book.
- Broker fill ingestion — reconcile against real fills from a broker CSV/FIX feed.
Append-only order lifecycle
Every order moves through intent → sent → filled, and each transition is appended, never overwritten. The order blotter and per-order trace let you follow a single order from the construction run that proposed it through to its fills.
Transaction cost analysis
TCA attributes the gap between decision price and realized fill to its components (spread, impact, fees, financing). Those realized costs feed the research loop so vetting can be cost-aware.
Related
- Portfolio Construction — produces the order intent
- Reconciliation & Exceptions — reconciles fills and positions
- Execution Model (SDK) — delay-1 mechanics in backtests