Timing, latency classes, and execution viability
Timing is first-class: submit→ack, fill→exit-submit, and feed freshness determine whether a route is viable. Hot/warm/cold are functional classes, not marketing labels.
Core definitions
Route-state
The current aggregated decision context where routes are evaluated on viability, timing, and risk suitability.
Timing-aware ranking
Route prioritization based on time sensitivity, data freshness, and execution viability, not on isolated signals.
Explainability
Public cause/effect explanation of why routes win or are rejected (why-no-trade, route wins, reject reasons).
Interpretation for operators and visitors
- Tier 2 shows latency histograms when the export includes those buckets; otherwise averages lead — see the observability FAQ.
- See SPEC (`/spec`) for latency targets and `07_OBSERVABILITY` for metrics and snapshots.
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