Q - What happens when your algo is deployed?
When you deploy your algo in the API, your order is not instantaneously executed or guaranteed. All orders are submitted to Alpaca and are subject to vetting though our risk control rules and other SEC Market Access Rules. It is possible that orders may be rejected. If an order is in good order, it will be routed to Electronic Transaction Clearing (ETC), our clearing broker, for execution.
At ETC, once your order parameters are met, the order will be sent to the market for execution. However, if the order parameters cannot be met during the period of time in which the order is open, the order may not be executed. Executed orders settle within two trade days (T+2).