Trading Operations and Risk Management Glossary
A short reference for terms that come up across dealing, risk and execution conversations.
A risk model where client orders are passed through to a liquidity provider for execution. The broker earns from spread and commission rather than client P&L.
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The continuous review of trading activity for patterns such as latency arbitrage, copy trading rings, news scalping and coordinated multi-account behaviour.
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A risk model where the broker internalises client orders and acts as counterparty. The broker carries the market risk in exchange for keeping the spread and client losses.
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The configuration and ongoing oversight of a liquidity bridge such as Centroid, PrimeXM, FXCubic or oneZero. Covers LP routing, markups and risk allocation.
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The operations function responsible for live exposure monitoring, hedging, platform administration and risk events on a broker or prop firm.
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A measure of how trades are filled, including slippage, latency, rejection rate and fill quality per LP, symbol and account group.
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An exploit pattern where a trader profits from price feed delays between venues. Often invisible without cross-venue analytics.
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A counterparty that streams executable prices to a broker or bridge. Brokers usually connect to several LPs and route by rules.
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Tight entries placed inside a macro release window to exploit a price gap or feed lag. Often restricted by prop firm rules and broker policy.
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The per-request check applied to funded account payouts or client withdrawals, against documented risk rules and supporting evidence.
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The difference between the requested price and the executed price on a fill. Tracked per LP, symbol, session and account group.
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Order flow that is systematically unprofitable for the broker or LP, often produced by latency arbitrage or coordinated abuse.
Deltar's proprietary risk intelligence platform. Read-only API integration with platforms, bridges and CRMs.
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