Slippage is the difference between the price expected when an order was sent and the price actually achieved. Persistent slippage against apparently available liquidity is one of the few red flags for spoofing that an ordinary trading desk can observe.
market microstructure · updated 2026-10-16
See also
Market impact— Market impact is the price movement caused by one's own trading. Managing it is the central problem of institutional execution, an…
Phantom liquidity— Phantom liquidity is displayed depth that disappears the moment anyone tries to trade against it. Some of it is innocent — market …
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