Decoded Intelligence Signal
Effective Spread
advanced
market_structure
Verified: May 27, 2026Lexicon Core Definition
The actual trading cost experienced by a market taker, measured as twice the difference between the execution price and the mid price at the time of execution; distinguishes true execution cost from the quoted spread.
Analysis Breakdown
The actual trading cost experienced by a market taker, measured as twice the difference between the execution price and the mid price at the time of execution; distinguishes true execution cost from the quoted spread. Full explanation coming soon when Journey 24 content is ingested.