A Rejection Management Module is a specialized component within a trading system designed to automatically process, analyze, and respond to orders or quotes that are declined by cryptocurrency exchanges or liquidity providers. Its function is to systematically handle non-executed instructions, preventing operational bottlenecks and improving trade completion rates.
Mechanism
This module operates by intercepting rejection messages, parsing them to identify the specific reason for denial (e.g., insufficient balance, invalid price, network issues, market rules violation), and then applying predefined logic. Actions may include automatically re-submitting the order with adjusted parameters, rerouting it to an alternative venue, or alerting a trader for manual intervention. Comprehensive logging of rejections supports post-trade analysis.
Methodology
The strategic objective is to minimize trade execution friction, reduce operational overhead, and maintain overall trading efficiency. By automating the response to rejections, the module ensures that trading strategies can continue to operate effectively even under adverse market conditions or technical glitches. This method contributes to higher fill rates and better execution quality by adapting to real-time feedback from trading venues.
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