Order Execution Routes

This question tests a candidate’s understanding of the basic execution options available in sales and trading, including exchange routing, internalization, electronic venues, and algorithmic order distribution. It matters in investment banking interviews because traders are expected to know how orders move through the market, how liquidity is accessed, and how execution choices can affect speed, price, and market impact. Interviewers use this type of question to see whether a candidate understands the practical mechanics of trading and the role of different execution channels in modern equity markets.