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This article was written by Aleksey Kutsenko, founder and CEO of Tools for BrokersInc. and member of the Dispute Resolution Committee of FinCom.
Instant execution is a type of execution when a client is placing an order and specifies both volume and price; the order should be processed instantly.
If the price changes at that moment, a broker cannot change the execution price. But he can reject the execution and reply with a requote, which can be accepted or not. This execution type is usually used by market maker brokers.
Instant execution is often complemented by fixed ... (read more)