Incentives

Brokers, media, conflicts, and the fine print that decides outcomes.

Price is the headline. Priority is the story. Who gets filled first matters as much as the level.

In OTC venues, your ‘fill’ is governed by broker terms; when it matters most, the contract can override the chart.

‘Best execution’ language usually means the broker will try, not that you will get the price you saw.

If you don’t map incentives, you’ll keep being surprised by outcomes that were obvious to everyone else.