Sources, evidence classes and reuse boundaries

Guides cite primary research and institutional education for concepts. The workbench and four worked cases use original synthetic inputs, so none of their volume, spread, cost or capital values is an observed market estimate. A source link does not imply endorsement or permission to redistribute its content.

Edition source inventory

Download source inventory

Dated access record

HTTP check at 2026-10-15T22:26:14.724142+00:00: 33 destinations retrieved, 0 confirmed missing and 4 access checks unconfirmed. Access is distinct from factual review and reuse rights.

These destinations denied automated access; they are not counted as retrieved in the HTTP receipt.

Download the access receipt

Use the source for the claim it supports

CFA Institute's 2026 Trading Costs and Electronic Markets reading supports the distinction between explicit charges and implicit execution costs. BIS research provides context for liquidity dimensions and resilience. The research papers linked below discuss market-impact relationships and their limits. Their historical samples and model assumptions should remain attached to their findings; this site does not treat them as current quotes for any market.

Original scenario arithmetic is a separate evidence class. The case inputs were designed to make unit conversions, binding constraints and changes in assumptions inspectable. Exact reconciliation verifies the equations on those inputs. It does not establish an empirical cost forecast, a backtest, a provider's operational capability or independent investment-strategy validation.

Evidence class	What it can establish	What it cannot establish alone
Primary methodological source	The named author's concepts or findings within scope	A current instrument-specific parameter
Synthetic worked example	Reproducible consequences of declared inputs	Historical fills or achievable returns
Provider or credential statement	What the identified source reports	Independent capacity or product certification
Retrieved public page	Accessible content at the review time	Continuous availability or future accuracy

Lawful use and attribution

The publication supplies original explanations and calculations with links to the underlying sources. It does not distribute full papers, proprietary transaction datasets, broker records or copied market-data feeds. Source authors and institutions retain their rights. Public accessibility is not treated as a general redistribution licence, and a reader who needs raw data must check the relevant terms and permitted use separately.

The downloads are the publication's own illustrative scenario records and worksheets. They contain no licensed live feed or extracted historical trading database. Citations support specified concepts, not the numerical defaults. Where a source has a sample period, publication date or version, retain it when extending an example. A new market-data study requires a new provenance and rights record.

Review record and uncertainty

The initial source review is dated 16 October 2026. Directly retrieved pages, cached search extracts and unavailable endpoints are distinguished in the retained review record. An inaccessible page is not counted as a successful retrieval merely because a search engine has an older extract. Access success also does not guarantee that every statement on a page has been independently established.

Links can move, public descriptions can become stale and source providers can revise methodology. Corrections should preserve the former claim, replacement source and reason for change in the publication's release history. This is a dated editorial publication, with no promise of automatic monitoring or continuous market-data refresh. Use the methodology and disclosure pages alongside any exported result.

Keep in the decision record

Synthetic values are not market observations.
Check source scope and reuse conditions separately.
A source-access failure stays visible in the review record.

Source notes

Sources inform the definitions and limitations. Scenario inputs and arithmetic are publication illustrations, not extracted market observations. Access checks are dated in the source inventory.

Version 1 · Published 16 October 2026. Inspect the method · Try the scenario workbench