What Is ‘Jitter’ and How Does It Contribute to Latency-Related Fill Rate Issues?
Jitter refers to the variation in latency (delay) over time. High jitter means the time it takes for a quote to reach the RFQ platform is inconsistent.
This unpredictability is detrimental because it makes it impossible for the market maker to accurately predict when their quote will be live, leading to quotes that are often too late or stale, thus reducing the effective fill rate.