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Quantitative Finance · Glossary

What is Order lifecycle, partial fill?

Also known as: order lifecycle · partial fill

Definition 17.2 Research Craft: Predictors, Backtests, Measurement, Portfolios · Chapter 17 — Event-Driven Backtests

The order lifecycle is the sequence of states an order passes through: pending (sent, not yet acknowledged), working, partially filled, and one of filled or cancelled. A partial fill executes part of an order’s quantity, leaving the rest working.

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