Insights on Crypto Payments, Infrastructure, and Operations

Markets, Finance & Liquidity

Markets, trading, liquidity, decentralized finance and financial concepts.

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Terms (106)

Payment Option

A payment option is a specific method, currency, asset, network, or provider a payer can choose to complete a transaction. Payment Option…

Payment Volatility

Payment volatility is variability in payment value, volume, timing, exchange rates, fees, or completion behavior across transactions or periods. For reliable use,…

Payment Volume

Payment volume is the number or monetary value of payment transactions processed within a defined period, scope, and transaction stage. Payment Volume…

Physical Settlement

Physical Settlement is the completion of a contract or trade through delivery of the underlying asset, security, commodity, or instrument rather than…

Position Reconciliation

Position Reconciliation is the comparison of quantities, cost bases, exposures, and ownership positions across internal books, counterparties, custodians, exchanges, or blockchains. It…

Price Lock

Price Lock is a commitment or system control that holds a specified price for a defined item, asset amount, order, or period…

Price Volatility

Price volatility measures the magnitude and frequency of changes in an asset's market price over a defined period and sampling interval. For…

Quoted Spread

A quoted spread is the difference between two exchange rates or prices offered for buying and selling an asset, often representing part…

Redemption Liquidity

Redemption Liquidity is the funds, liquid assets, market access, and operational capacity available to honor redemption requests within promised terms and near…

Reserve Order

Reserve Order is an order that displays only part of its total quantity while retaining additional undisplayed quantity that can replenish the…

Reserve Policy

Reserve Policy is the documented framework governing the purpose, composition, liquidity, custody, limits, use, and oversight of financial reserves. It sets governance…

Return Payment

A return payment sends money or digital assets back to a payer after a refund, reversal, rejection, or failed transaction resolution. For…

Settlement Currency

Settlement currency is the currency in which an obligation is finally discharged and settlement entries are posted. It may differ from the…

Settlement Price

Settlement price is the price, rate, or valuation used to calculate the amount owed at settlement. It may apply to securities, derivatives,…

Settlement Slippage

Settlement slippage is the difference between an expected value or exchange rate and the value actually realized when settlement occurs.

Slippage

Slippage is the difference between the price expected when an order is placed and the price actually achieved when it executes. It…

Slippage Tolerance

Slippage tolerance is the maximum adverse difference between an expected trade price or output and the execution outcome a trader permits.

Smart Order Routing

Smart Order Routing is the automated selection and sequencing of trading venues or liquidity sources to execute an order according to price,…

Spot Price

Spot Price is the current price for buying or selling an asset for immediate or near-immediate delivery and settlement under the conventions…

Spread

Spread is the difference between two prices, rates, yields, or values that are compared for trading, pricing, funding, risk, or performance analysis.…

Stablecoin Liquidity

Stablecoin liquidity is how easily a stablecoin can be converted or redeemed at usable prices and within a practical settlement timeframe, especially…

Stop-Limit Order

Stop-Limit Order is an order that becomes a limit order when a specified stop price is reached or triggered. The stop controls…

Sweep Order

Sweep Order is an aggressive trading instruction designed to access available liquidity across one or more price levels or venues, often with…

Total Payment Volume (TPV)

TPV is the total monetary value of payment transactions processed through a platform during a specified reporting period. Total Payment Volume (TPV)…