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Execution
Basics
どういう意味か
The whole process of getting your order filled: routing it, matching it, and reporting the trade back to you. Good execution means fast fills at fair prices.
例
A marketable limit order to buy 500 SPY shares might execute in under 100 milliseconds across several exchanges, filling 300 at $450.01 and 200 at $450.02.
初心者がよくやるミス
Beginners blame "the broker" for bad execution when the real cause is using market orders in illiquid names. Order type, not the broker, usually decides fill quality.