Fill Rate

The fill rate is the percentage of an order that is successfully executed at the desired price within a given timeframe. A high fill rate indicates that the trader is effectively capturing liquidity, while a low fill rate may suggest that the order price is too aggressive or the market lacks depth.

For institutional traders, monitoring fill rates is vital for evaluating the performance of execution algorithms. It provides insight into how effectively a strategy interacts with the market's current state.

Consistently low fill rates often prompt adjustments to order sizing or timing. It serves as a quantitative measure of execution efficiency and market accessibility.