Feed & Execution instruments
The feed you are told to trust, measured instead: what your broker’s quote stream does, what sits underneath it, and what trading against it actually cost you.
Receipt page · proof before pitchHow the Feed & Execution suite measuresVersioned methodology · pre-registrations · proof corpus · changelog · recomputation steps- Instruments
- 03
- Published measurements
- NOT YET PUBLISHED
The problem, in the customer’s words
I keep getting fills that do not match what I saw on the screen, and when I ask I am told it was normal market conditions. I have no way to check whether that is true.
Not a customer quotation. Nothing on this site is attributed to a customer, and no testimonial appears anywhere on it — this is the problem the family exists for, written the plain way it gets put.
What this family is for
The family that measures the layer you are told to trust and never shown: the quote stream your broker publishes, the microstructure underneath it, and what trading against it actually cost you.
The three instruments are one measurement chain, which is why they ship as a family. The Broker Feed Auditor treats the published feed as a measurable object rather than a trusted one — inter-tick publication cadence, two-sided coordination structure, per-side staleness, spread regimes, and freeze and rollover behaviour at contract boundaries. The Microstructure Dashboard sits inside that subscription and is never sold standalone, because per-pair realized-volatility modelling, jump and liquidation shares, cost proxies and session structure only mean something measured against a feed whose fidelity you have already established.
The Execution Cost Auditor closes the loop from the other end. It computes transaction costs from your own imported statements: slippage distributions per fill, the spread regime in force at the moment of execution, and the session timing of realized cost. Together the three answer one question end to end — what does your broker’s feed do, and what did trading against it cost. Nothing in this family is a signal.
The 3 instruments in this suite
Every card states both halves: what the instrument measures, and what it does not establish. The figure on each card is an anticipated pre-launch indication, priced out in full in the table below, and no measurement from this suite has been published yet.
What does your broker's feed actually do when you measure it instead of trusting it?
Anticipated£149/mo · £1,490/yr
- Measures
- The fidelity battery run against the feed you personally receive: publication cadence, two-sided coordination, per-side staleness, spread regimes, and freeze and rollover behaviour at contract boundaries — every dimension published with the sample behind it.
- Does not establish
- It does not establish intent, does not certify a broker honest or dishonest, and is not a regulatory finding. It measures the feed as it arrives at you, so your connection and your platform sit inside the measurement and the report says so beside every result.
Bundled inside P1's subscription. Never standalone.
AnticipatedIncluded with the Broker Feed Auditor
- Measures
- Per-pair description on an already-audited feed: HAR-RV realized volatility with its out-of-sample skill printed beside it, jump and liquidation shares, spread- and impact-based cost proxies, and tail and session structure reported per session rather than averaged.
- Does not establish
- It issues no signals and forecasts no price. It also cannot repair a feed: run on a stream that has not passed the fidelity battery, these estimates would faithfully describe the vendor’s artifacts rather than the market — which is why it is never sold standalone.
Statement-import truth about what your execution actually cost.
Anticipated£99/mo · £990/yr
- Measures
- Transaction cost computed from your own imported statements: signed slippage kept as a distribution, the spread regime in force at the moment of each fill, session-timing structure, cost against the quote of record, and the number of fills visible on every figure.
- Does not establish
- It does not estimate a hypothetical best execution — there is no counterfactual venue here and no implied figure you were owed. It asserts no broker intent, and it is bounded by what your statements contain, a limit the report names rather than interpolating around.
What the Feed & Execution suite is anticipated to cost
Every figure below is an anticipated pre-launch indication read from the instrument catalogue — not a confirmed price, not a quote and not an offer. Nothing on this site is purchasable: there is no checkout, no cart and no payment link on any page. The launch list is the only thing open.
| Instrument | Billed monthly | Billed annually |
|---|---|---|
| P1 Broker Feed Auditorincludes the Microstructure Dashboard | £149/mo | £1,490/yr |
| P6 Microstructure Dashboardnever standalone | Included with the Broker Feed Auditor | |
| P9 Execution Cost Auditor | £99/mo | £990/yr |
The family arithmetic
What licensing every instrument in this family separately would come to. The lines stay apart where their units differ — a per-seat licence, a flat account licence and a scoped engagement cannot be added into one number, and a single tidier figure would be a false one. One instrument here is bundled into another and adds nothing to the total.
- Per account, billed monthly
- £248/moP1 + P9, summed at their monthly figures.
- Per account, billed annually
- £2,480/yr£248 × 10 months = £2,480. Twelve months of service, ten months paid.
Check the arithmetic
Across P1 + P9, billed monthly for a year: £248 × 12 = £2,976. The same instruments billed annually: £2,480. The gap is exactly two months — £496.
A three-year term pays eight months per year of service: 8 × 3 = 24 months. At £248/mo across P1 + P9, that is £5,952 for three years of service. Two years of monthly billing is £2,976 × 2 = £5,952. The same number: three years of service for what two years of monthly billing costs.
What a suite licence would change
Nothing yet, and I will not pretend otherwise. The totals above are the plain arithmetic sum of licensing each instrument on its own — that sum is a fact you can add up yourself. I have not directed a suite or bundle discount, so none appears here. Publishing an invented one would be the exact class of fabrication this site exists to argue against, and a figure I would then have to withdraw is worth less than an honest blank.
What has been directed is the commitment ladder below and, for the instruments licensed per seat, the seat bands underneath it. Both are anticipated and both await ratification. Multi-entity and multi-network groups are licensed by negotiation rather than by seat count: flat-rate instruments scale by entity, never by seat, and a negotiated number is not a list price so none is published. The full model sits on the pricing page, and the terms themselves on the licensing page.
Longer terms: one month less per year, per step
The months paid for each year of service fall from twelve on monthly billing to eight on a three-year term.
| Term | Months paid per year | What it does to the annual list |
|---|---|---|
| Monthly billing | 12 | Twelve months paid for twelve months of service. Costs 20% more than the annual list — that uplift is the whole difference. |
| One-year term | 10 | Ten months paid for twelve months of service. This is the annual list in the table above. |
| Two-year term | 9 | Nine months paid per year of service — a tenth off the annual list, with the figure held for the term. |
| Three-year term | 8 | Eight months paid per year of service — a fifth off the annual list, with the figure held for the term. |
Standing policy — read beside every figure above
- No promise of profit, ever. Hadal makes no performance claims and carries no implied edge. Past measurements describe instrument behaviour — never future returns.
- You own risk management. Hadal cannot control it and does not insure it. Good tools do not fix bad discipline — and this site says so.
- Analytical tools, for discretionary use. Nothing here is investment advice or a recommendation to trade. Every decision, and every outcome, is yours.
The same statement stands in the footer of every page.Terms Privacy
How the instruments connect
Input, then which instrument runs, then what it returns, then what the next one consumes. This diagram describes the workflow only. No step on it is a result, and this family has published none.
- 01
Input: the quote stream your broker publishes to you
The capture attaches to the feed you personally receive — not to a consolidated tape you never saw — so the object being measured is the one your decisions were made on.
- 02
P1 Broker Feed Auditor runs the fidelity battery
Returns cadence, coordination, staleness, spread-regime and freeze/rollover findings, each with its sample. What the next step consumes is a stream whose fidelity has been established rather than assumed.
- 03
P6 Microstructure Dashboard consumes the audited feed
Takes the same stream and returns per-pair description — volatility modelled with out-of-sample skill, jump shares, cost proxies, session structure. It is bundled into P1’s subscription precisely because this step cannot run first.
- 04
P9 Execution Cost Auditor consumes your statements and that feed
Fills imported from your own account are placed against the quote conditions the auditor measured, returning slippage distributions, spread-regime context and the session timing of realized cost.
A re-audit re-enters at step 01. A feed is a moving object, and cost measured against last quarter’s fidelity is cost measured against a different feed.
The Feed & Execution workflow, end to end: what enters the family, which instrument acts at each stage, and what the next stage consumes.
A process diagram establishes nothing about any market. It states how the instruments are wired to each other — not that any of them has measured anything.
The diagram is the shape; the suite-workflow documentation is the order you actually run them in, including which stages can be skipped and which cannot. It is published before the product, so the intended sequence can be held against whatever ships.
One worked example
NOT YET PUBLISHED
No worked example exists for this suite, because no measurement from it has been published. Rather than stage one from invented data, the five slots a worked example will carry are named in the empty figure beneath this note, with their contents stated and every slot empty. Nothing here is an example run, and no figure, date or digest appears in it.
- Inputs
The broker and account the stream was captured from, the pairs, the capture window, and the platform path the feed arrived through.
NOT YET PUBLISHED- The run
Which battery version ran, over which dimensions, and the pre-registered thresholds that were in force before the capture started.
NOT YET PUBLISHED- Artifact digest
The digest of the published capture and of the result set computed from it, downloadable so the finding can be re-derived by a stranger.
NOT YET PUBLISHED- The finding
One dimension stated in plain language with its sample — the shape of the cadence distribution, or where staleness concentrated across the session.
NOT YET PUBLISHED- The limits
What that finding does not establish: no intent, no certification of a venue, and the reader’s own connection sitting inside the measurement.
NOT YET PUBLISHED
The five slots a Feed & Execution worked example will carry. Each row states what the slot will contain; none of them contains it yet.
An empty structure establishes nothing. It shows the shape of the evidence this suite intends to publish, and the absence of that evidence today.
When the first example publishes it will appear here with its artifact downloadable and its digest on the Feed & Execution receipt page, where the steps for re-deriving it are already written out.