D11-F02-A02 · GUIDED PLAYGROUND

Effective Spread

How far did a signed execution occur from the contemporaneous quote midpoint? Choose a scenario, step through 61 deterministic calculations, and audit why the state changes.

◆ Synthetic teaching data · not a live market measurement
Effective Spread scenario curveSixty-one deterministic calculations with the selected point marked.

Horizontal: controlled step. Vertical: Effective spread (bps).

Liquidity and Spreads · measurement context

How far did a signed execution occur from its contemporaneous midpoint?

Nearest comparison

Quoted Spread is displayed cost; Realized Spread moves the benchmark to a future midpoint.

Do not substitute

It is not a post-trade dealer-revenue measure and does not isolate market impact.