Which aspect is not guaranteed when a participant initiates an Improve Request?

The aspect that is not guaranteed when a participant initiates an Improve Request is related to the transparency of order submission. While transparency is a crucial feature of modern trading systems, it does not imply that every detail of the order submission will be fully visible or communicated to all market participants at all times.

In the context of an Improve Request, participants may be looking to initiate trades at better conditions or prices, but the system’s ability to maintain transparency depends on various factors, including how the order is processed and the specifics of the trading platform being used. It is not guaranteed that all aspects of the order will be transparent to other market participants, particularly in fast-moving or highly competitive environments.

On the other hand, best execution compliance and market response time are generally more assured within the trading framework, as there are established standards and expectations regarding how orders should be executed and processed. The commitment to full execution of the order, while not absolute, is often emphasized in trading operations, as institutions aim to fulfill orders to the best of their ability.