Order Fill Rate

The order fill rate is the percentage of a submitted order that is successfully executed at the desired price. A high fill rate indicates that the trader is effectively navigating the market and finding sufficient liquidity.

A low fill rate, however, suggests that the order is being rejected, cancelled, or filled only partially, often due to price movements or insufficient depth. Traders monitor this metric closely to evaluate the performance of their execution algorithms.

Improving the fill rate is a primary goal of order management systems, as it directly impacts the profitability and reliability of trading strategies.