Glossary

Structure uses a precise vocabulary so strategy logic, execution behavior, account context, and evaluation results stay easy to compare.

Glossary terms are linked automatically the first time they appear on each documentation page. Hover a glossary link to see a short definition, or open the link to read the full entry here.

Product workflows

The main objects and workflows users work with in Structure.

Compilation

The Structure workflow that prepares a validated saved revision into a runtime form the strategy engine can evaluate consistently.

Also used as: compile, compiled, runtime compilation

Compile output

The validation and compilation result attached to a saved revision so users can review whether the revision is ready for runtime evaluation.

Also used as: compilation output

Compiled revision artifact

The stable runtime artifact prepared from a validated saved revision and used by the strategy engine for evaluation.

Also used as: compiled artifact, runtime artifact, revision artifact

Compiled revision binary

A compiled runtime form of a validated saved revision. Users do not manage this binary directly; it remains attached to the revision and runtime results.

Also used as: compiled binary, revision binary

Draft revision

An editable strategy revision before it is saved as an immutable revision for validation, compilation, testing, or deployment.

Also used as: draft revisions, draft

Revision

An immutable saved version of a strategy that Structure can validate, compile, evaluate, compare, and select for deployments or backtest jobs.

Also used as: revisions, saved revision, saved revisions

Rust

The runtime construction target Structure uses conceptually for validated strategy revisions, focused on repeatable evaluation, performance, and traceability.

Also used as: Rust code

Run context

The selected revision, Strategy Variable values, account context, venue context, assumptions, and path-specific settings attached to a deployment or backtest job.

Also used as: runtime context

Strategy

A Structure model that expresses trading logic through revisions, graph logic, state-machine logic, strategy actions, and run-provided settings.

Also used as: strategies

Strategy revision

A saved version of a strategy containing DAG logic, state-machine logic, fixed node parameters, validation state, compile output, and compiled revision artifact.

Also used as: strategy revisions

Structure

The product for building, validating, evaluating, and deploying strategy revisions across live deployments, paper deployments, and backtest jobs.

Validation state

The recorded result of Structure checking whether a revision is coherent enough to save, compile, test, or deploy.

Also used as: validation, validation errors

Strategy anatomy

Terms for strategy revisions, graph logic, state logic, and actions.

DAG

A directed acyclic graph: the graph structure Structure uses so values flow through connected nodes without circular dependencies.

Also used as: directed acyclic graph, DAG structure

Direct order actions

Roadmap functionality for a future strategy action type that will let strategies place, cancel, and modify orders directly for strategies that need order-level control.

Also used as: direct order action, place order action, cancel order action, modify order action

Fixed node parameter

A node parameter saved inside a strategy revision rather than supplied at run configuration time.

Also used as: fixed node parameters, fixed parameter, fixed parameters

Graph path

A connected path of graph nodes evaluated when the relevant source event fires.

Also used as: graph paths

Group

A reusable package of strategy graph logic with typed inputs and outputs that can be imported where the same calculation is needed.

Also used as: groups

Group definition

A reusable typed graph interface that can be imported into source-event containers or other group definitions.

Also used as: group definitions

Group import

A placed instance of a group definition inside a graph, using the group definition as a reusable typed interface.

Also used as: group imports

Label

A named typed output from the strategy graph that can be referenced by state logic, strategy actions, and other parts of the revision.

Also used as: labels, typed label, typed labels

Memory read

A graph node that reads the current value of a memory slot during evaluation.

Also used as: memory reads, Memory Read node, Memory Read nodes

Memory slot

A typed piece of strategy memory that can persist across evaluations and be read or written by the revision logic.

Also used as: memory slots, memory

Memory write

A graph node that stages a new memory-slot value and applies it only after the current graph evaluation finishes successfully.

Also used as: memory writes, Memory Write node, Memory Write nodes

Node

A typed unit of strategy graph logic that receives inputs, produces outputs, and participates in DAG evaluation.

Also used as: nodes, graph node, graph nodes

Numeric

A typed numeric value used in strategy graph outputs, labels, state logic, or action quantities where the model expects a number.

Also used as: numeric value, numeric values, decimal

OHLC bar

A market data summary over a chosen interval that records open, high, low, and close prices, and can be used as an input to strategy logic.

Also used as: OHLC bars, bar data, bars

Source event

An event or trigger, such as a supported market data update, that can cause graph paths in a strategy revision to evaluate.

Also used as: source events

Source-event container

A canvas workspace associated with a source event; when that event fires, Structure evaluates the graph paths inside the container.

Also used as: source-event containers

State

A named strategy condition in a state machine, usually representing an intent such as waiting, long, short, or reducing exposure.

Also used as: states, strategy state, strategy states

State machine

The part of a strategy revision that evaluates decision logic and decides whether the strategy remains in its current state or transitions to another state.

Also used as: state machines, state-machine logic

Strategy action

The parent concept for what a strategy should express or do while it is in a state; today, the public strategy action type is the target-position action.

Also used as: strategy actions, Actions pane, action pane

Strategy graph

The DAG-based graph of typed nodes, labels, source-event containers, and graph paths that computes values for the rest of a strategy revision.

Also used as: graph, graphs

Strategy Variable

A run-provided value for an exposed node parameter, allowing users to evaluate the same saved revision with different supplied values.

Also used as: strategy variables

Target position

The desired position emitted by a strategy revision and handled by the Target Position Executor.

Also used as: target positions, target-position intent

Target-position action

The current public strategy action type that maps a strategy state to desired exposure by emitting target positions.

Also used as: target-position actions, target position action, target position actions

Tick-level data

Market data represented as individual updates rather than pre-aggregated bars, allowing strategy logic to evaluate at the granularity of each received update.

Also used as: tick-level market data, tick data, ticks

Transition branch

A branch inside state-machine logic that evaluates conditions and can lead to a state transition.

Also used as: transition branches

Typed value

A graph value with a known type, used so Structure can validate compatible inputs, outputs, labels, memory, and strategy actions.

Also used as: typed values, typed output, typed outputs

Execution paths

Terms for live deployments, paper deployments, backtest jobs, and execution routing.

Backtest job

A finite historical evaluation of a selected strategy revision using a historical market data server, the strategy engine, the Target Position Executor, and the Venue Simulator.

Also used as: backtest jobs

Deployment

A long-running instance of a selected strategy revision, either paper or live, with its own lifecycle state and path-specific settings.

Also used as: deployments, deployment record, deployment records

Execution destination

The destination that receives execution intent after the Target Position Executor: the live exchange gateway for live deployments and the Venue Simulator for paper deployments and backtest jobs.

Also used as: execution destinations

Fill

An execution result where order activity becomes an executed quantity at a price, either from a live venue or from the Venue Simulator.

Also used as: fills, simulated fill, simulated fills

Health signal

A runtime status, warning, error, or telemetry signal that helps users monitor a deployment or troubleshoot a boundary.

Also used as: health signals, health warning, health warnings

Historical market data server

The data source used by backtest jobs to replay historical market data into the strategy engine.

Also used as: historical data server

Live deployment

A long-running deployment that uses live market data, the strategy engine, the Target Position Executor, and the live exchange gateway to send order activity to a supported venue.

Also used as: live deployments

Live exchange gateway

The venue-facing destination for live deployments; it sends order messages to live venues and receives live venue order messages.

Live market data server

The data source used by live deployments and paper deployments to feed current market data into the strategy engine.

Also used as: live market data

Live venue constraints

The venue rules and real-time account conditions that affect live execution, such as permissions, balances, margin context, order constraints, and venue health.

Also used as: venue constraints

Order activity

The execution work managed by the Target Position Executor to move account positions toward emitted target positions.

Also used as: order behavior, simulated order activity

Order messages

Messages sent to or received from a live venue through the live exchange gateway as part of live order handling.

Also used as: order message, live venue order messages

Order state

The latest known status of order activity, such as submitted, filled, partially filled, canceled, rejected, or errored where available.

Also used as: order status

Paper deployment

A long-running deployment that uses live market data, the strategy engine, the Target Position Executor, and the Venue Simulator instead of sending orders to a live venue.

Also used as: paper deployments

Strategy engine

The runtime evaluator that receives a selected compiled revision artifact, binds run-provided Strategy Variable values, evaluates strategy logic, and emits target positions.

Target Position Executor

The execution component that receives target positions and manages order activity to move account positions toward those targets.

Venue Simulator

The shared simulated execution destination for paper deployments and backtest jobs; it does not model the full exchange order book.

Also used as: simulator

Accounts, venues, and portfolio state

Terms for connected accounts, venues, instruments, holdings, and account state.

Account state

The latest account context Structure can surface for a connected or simulated account, such as balances, positions, margin context, fills, order state, and health where supported.

Also used as: account context

Asset

A base currency or token, such as SOL, USDC, or USD, that can appear in balances, holdings, and portfolio-level metrics.

Also used as: assets

Balance

An amount of an asset associated with a connected account, simulated account, or starting configuration.

Also used as: balances

Connected account

A venue account that has been connected to Structure for account monitoring and, where authorized, strategy execution.

Also used as: connected accounts, connected trading account, connected trading accounts

Holding

A portfolio-level view of assets and exposures aggregated from connected accounts and account state where available.

Also used as: holdings

Hyperliquid

The first supported venue in Structure during the launch phase.

Instrument

A specific market at a venue, such as a spot pair or perpetual contract, that a strategy revision owns and evaluates.

Also used as: instruments, revision-owned instrument

Margin context

Account-level margin information that can affect available exposure and execution decisions where supported by the venue.

Also used as: margin

Permission scoping

The venue-supported ability to limit connected account permissions to what Structure needs for strategy execution and account monitoring.

Also used as: permission boundaries, permissions, account permissions

Position

The current exposure for an instrument in a connected or simulated account.

Also used as: positions, account position, account positions, position state

Revision-owned venue

The venue selected as part of a strategy revision, used to determine market data, instrument context, and execution assumptions.

Solana wallet

The wallet identity used to sign in to Structure during the wallet-native account flow.

Also used as: wallet, wallet identity

Target exposure

The desired account exposure implied by target positions emitted by a strategy revision.

Also used as: desired exposure, exposure intent

Trading account

The Structure account record used to connect a venue account for monitoring and, where authorized, live deployment execution.

Also used as: trading accounts

Venue

A supported exchange or protocol where trading can occur and where instruments, permissions, and account requirements are defined.

Also used as: venues, supported venue, supported venues

Venue account

The account at the venue that is connected to Structure through the trading account flow.

Also used as: venue accounts

Venue authorization

The permission or credential relationship that lets Structure monitor or execute through a connected venue account where supported.

Also used as: venue access, venue credentials

Wallet-native

The Structure sign-in model where a user identity is based on wallet control rather than a username and password.

Also used as: wallet native, Sign-in with Solana

Backtesting and simulation

Terms for simulator assumptions, historical data, and comparison workflows.

Complete segment

A portion of a requested historical time range that has enough available data for the intended backtest job evaluation.

Also used as: complete segments

Data completeness

The record of which requested historical periods had enough available data for evaluation and which periods had gaps.

Also used as: coverage completeness

Data gap

A portion of a requested historical time range where required market data was unavailable or incomplete for evaluation.

Also used as: data gaps

Evidence under assumptions

The interpretation boundary for paper deployments and backtest jobs: results are useful evidence only under their recorded data, settings, and simulator assumptions, not performance guarantees.

Also used as: evaluation evidence, assumption-based evidence

Fees

The cost assumptions applied to simulated order activity in paper deployments and backtest jobs where configured.

Also used as: fee, fee assumptions

Fill model

The simulator rule set that determines how simulated order activity becomes simulated fills under the selected assumptions.

Also used as: fill models

Full exchange order book

The complete live venue order book including depth, queue position, cancellations, and microstructure behavior; the current Venue Simulator does not model it.

Also used as: exchange order book, order book, full order book

Historical data coverage

The availability and completeness of historical market data for the requested venue, instrument, and time range.

Also used as: historical coverage, data coverage

Historical time range

The start and end period selected for a backtest job.

Also used as: historical range, time range, time window

Latency

The delay assumption or observed delay between an input, decision, order activity, or fill depending on the evaluated path.

Also used as: latency assumptions

Liquidity assumptions

Simulator assumptions about available liquidity and execution feasibility used when reading simulated results.

Also used as: liquidity assumption

Promotion boundary

The explicit user decision point between reviewing evaluation evidence and starting a live deployment with selected revision, account, venue, permissions, and settings.

Also used as: promotion

Simulator assumptions

The settings and limitations that define how the Venue Simulator turns target-position execution into simulated account behavior.

Also used as: simulator settings

Slippage

The simulated difference between an intended execution price and the price used by the simulator under the selected assumptions.

Also used as: slippage assumptions

Starting balances

The initial simulated balances selected for a backtest job and used to evaluate sizing, exposure, PnL, and drawdown under assumptions.

Also used as: starting balance

Tick replay

Roadmap functionality for replaying historical data at tick-level granularity; it is not a current Structure backtest job capability.

Also used as: tick-level replay

Result metrics

Terms used when reading backtest job and simulated execution results.

Backtest result metrics

The recorded result fields for a backtest job, such as PnL, max drawdown, high-water mark, continuous-time Sharpe ratio, rolling position, trade count, event count, and data completeness.

Also used as: result metrics, metric summary

Continuous-time Sharpe ratio

A risk-adjusted comparison metric reported for a backtest job under the selected historical range, settings, and simulator assumptions.

Also used as: Sharpe ratio, Sharpe

Event count

The number of evaluation events recorded during a backtest job, useful for understanding evaluation density across the historical range.

Also used as: event counts

High-water mark

The highest recorded value reached during the evaluated result path of a backtest job.

Also used as: high water mark

Max drawdown

The largest decline from a prior high point during the evaluated result path of a backtest job.

Also used as: maximum drawdown, drawdown

PnL

Profit and loss recorded under the selected result context, such as a backtest job historical range and simulator assumptions.

Also used as: P&L, profit and loss

Rolling position

The recorded position path over time during a backtest job or simulated evaluation.

Also used as: rolling positions

Trade count

The number of simulated trades or fills represented in a backtest job result.

Also used as: trade counts