Lesson 2.4 - Order, Quote and Execution Path¶
For daily Dealing Room work, the most useful system knowledge is the path from quote to order to execution result.
Quote / QuoteSource Price
→
MT4 / MT5
Client Order
→
Platform
Platform
→
Validation / Risk Check
Risk
→
Bridge / Routing
Bridge
→
QuoteSource / Execution
Bridge
→
Fill / Platform Reject / Timeout
Result
→
Platform
Platform
→
History / Report
What Dealers Monitor¶
| Area | What to watch | Why it matters |
|---|---|---|
| Quote | Bid/ask, spread, quote time, quote contribution | Bad or stale quotes can affect execution and complaints |
| Order validation | Margin, session, symbol permission, account condition | A rejected order may be a rule issue, not a system outage |
| Bridge | Queue, routing latency, timeout and reject rate | A connected Bridge can still be unhealthy |
| Quote-source status | Quote quality, response time and available depth | Execution quality depends on platform, Bridge and quote conditions |
| Report/history | Order state, deal record, balance impact | Closure requires records to match what happened |
Investigation Shortcut¶
When execution looks abnormal, ask:
- Was the quote normal at the time?
- Did the order pass platform validation?
- Did the Bridge queue or routing latency increase?
- Which quote source or route handled the order?
- Was the result fill, reject or timeout?
- Does the final platform record match the evidence?
Boundary¶
Dealers may identify the affected layer and collect evidence. Route changes, quote source suspension, symbol setting changes or execution policy changes require the approved approver.
Completion Criteria¶
- Can explain the key risk or operational objective of this lesson
- Can identify the required systems, data, or evidence to review
- Can describe the correct escalation or handling process
- Has completed Shift Leader / follow-up review or practical confirmation