Bid-Ask Spread
The bid-ask spread is the gap between the best buy price and the best sell price.
Category
Order Routing
These terms describe liquidity, slippage, and how orders move through markets.
How to recognize this theme
Words used when trades are matched and filled.
In a daily board, this category groups terms by their shared role. Look for four cards that describe the same mechanism, risk area, or workflow rather than four words that merely sound similar.
Educational context
These entries are vocabulary notes for learning. They are not project endorsements, token recommendations, exchange rankings, or trading signals.
Market Depth
Market depth describes how much liquidity exists at different prices in an order book.
Slippage
Slippage is the difference between an expected trade price and the price actually filled.
Order Book
An order book is a list of bids and asks waiting to be matched on an exchange.
Smart Order Routing
Smart order routing sends an order to the venue or path likely to give the best execution.
Order Slicing
Order slicing breaks a large order into smaller pieces to reduce market impact.
Route Selection
Route selection chooses which path or venue handles a request or trade.
Venue Coverage
Venue coverage describes how many markets or platforms a routing system can reach.