⚡ Execution & Order Management

Multi-broker architecture with intelligent order routing and fill optimization

Multi-Broker Architecture

Diversified execution infrastructure

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Alpaca

US Equities & ETFs

Commission-free, fractional shares, extended hours, paper trading sandbox

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CCXT (Multi-Exchange)

Cryptocurrency

Unified API across 100+ exchanges — Binance, Coinbase, Kraken primary

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Options (Planned)

0DTE Options

Integration with IBKR or Tradier for options execution — S4 strategy dependency

Paper Trading Engine

Realistic simulation before live capital

All strategies begin in paper trading mode with a realistic fill simulation engine. Paper fills include configurable slippage (default 0.02%), spread simulation based on historical bid-ask data, and partial fill modeling for larger orders.

Strategies must demonstrate 30+ days of profitable paper trading with metrics within expected backtested ranges before promotion to live trading. Any strategy degradation triggers automatic reversion to paper mode.

Smart Order Routing

Execution optimization

Order Type Selection

Limit orders for entries (patience), market orders for stops (urgency). Adaptive based on volatility.

Time Slicing

Large orders split into smaller tranches over 5–15 minutes to minimize market impact

VWAP Targeting

Execution benchmarked against VWAP — orders paced to match volume profile

Retry Logic

Failed orders automatically retried with adjusted prices — max 3 attempts before escalation

Slippage Management

Minimizing execution cost

Real-time slippage monitoring compares expected fill price (signal price) against actual execution price. Rolling slippage statistics maintained per instrument and time-of-day. If observed slippage exceeds 2x the modeled slippage for a given instrument, the system flags the instrument for spread analysis and may temporarily restrict trading until liquidity normalizes.

Position Tracking & Reconciliation

Real-time portfolio state

Real-Time P&L

Mark-to-market P&L computed every second for all open positions

Broker Reconciliation

Automatic daily reconciliation between internal state and broker positions — discrepancies trigger alerts

Audit Trail

Every order, fill, modification, and cancellation logged with nanosecond timestamps

Multi-Account Support

Track positions across paper and live accounts simultaneously with unified dashboard view