Prop Message Journals: Separate Publication, Receipt, Decision and Fill
A message-based research record can contain several delays before an account fill. Retain each event’s meaning and clock assumptions. Measuring only publication-to-fill time mixes delivery, decision and execution stages.
Explore this site’s existing research resource
Name the four event records
Save the original publication instant, observed reception, recorded decision and confirmed execution time. Keep the source of each timestamp. If clocks differ or their offsets are unknown, retain that uncertainty before subtracting values across systems.
For a London diary, keep the original full date and UTC instant beside local displays. A forwarded message may have a later receipt than its publication. The message’s stated entry price is not an execution timestamp or account price.
Decompose a fictional interval
Assume comparable clocks in this teaching case. Publication is 09:00:00 UTC, reception 09:00:04, decision 09:00:10 andfill 09:00:12. Publication-to-reception is 4 seconds, reception-to-decision 6, anddecision-to-fill 2. Total publication-to-fill is 12 seconds.
The total 12 seconds is not an isolated measure of exchange processing. Even the last 2 seconds can include multiple steps not observed here. Missing an order-submission or acknowledgement timestamp prevents a narrower attribution. A fast interval also says nothing by itself about profitability. Where one timestamp is recorded only to the nearest second, preserve that resolution instead of reporting millisecond differences unsupported by the source.
| Record | UTC time | Interval from previous record |
|---|---|---|
| Published | 09:00:00 | Baseline |
| Received | 09:00:04 | 4 seconds |
| Decision recorded | 09:00:10 | 6 seconds |
| Confirmed fill | 09:00:12 | 2 seconds;12 total, not pure exchange latency |
Keep the account outcome evidence complete
The related resource preserves this site’s original latency journal. A real evaluation review still needs quantities, prices, costs, exit evidence and current programme conditions. No signal should be followed merely because its delivery appears quick.
The optional sponsored HashHedge link offers current programme information. This page publishes no message, places no order and measures no actual platform latency. Its fictional timeline distinguishes observable intervals from unsupported causal explanations.
Sources and rule dates
- RFC3339: explicit timestamp representation
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established. - HashHedge: challenge types
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established. - HashHedge: terms and conditions
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established.