Operating paths
Live execution path
A live deployment is a long-running path that uses live market data and sends order activity to a supported venue through the live exchange gateway.
The runtime path is:
Live market data server -> Strategy engine -> Target Position Executor -> Live exchange gateway
Live deployments are different from paper deployments and backtest jobs because they can send live order activity through a connected venue account and can affect real capital.
- Market data Live or historical market data sources.
- Strategy engine Runtime evaluation of the selected compiled revision.
- Target Position Executor Target-position intent converted into order activity.
- Live exchange gateway Venue-facing live order message boundary.
- Account state Live or simulated positions, fills, balances, and order state.
- Live path Long-running live deployment or live venue boundary.
- Target positions Desired exposure emitted by strategy evaluation.
Before starting a live deployment
Section titled “Before starting a live deployment”Before a live deployment starts, users select and review:
- Strategy.
- Revision.
- Strategy Variable values.
- Revision-owned venue and instrument.
- Connected account.
- Venue permissions.
- Deployment settings.
- Any warnings or health checks surfaced by the app.
The user remains responsible for trading decisions, connected account selection, capital allocation, permissions, and risk.
Live exchange gateway
Section titled “Live exchange gateway”The live exchange gateway is the venue-facing component for live deployments.
It sends order messages to live venues and receives live venue order messages. It is separate from the Venue Simulator, which is only used for paper deployments and backtest jobs.
The live exchange gateway handles concepts such as:
- Live order submission.
- Order status updates.
- Fill updates.
- Venue-specific connection health.
The live exchange gateway does not replace account monitoring. Position, balance, margin, and health context are surfaced as account state where supported by the venue. Those values help users interpret live deployment behavior, but they are distinct from live venue order messages.
Use the account connection flow to review the setup steps and permission labels for each supported venue.
Target Position Executor behavior
Section titled “Target Position Executor behavior”The strategy engine emits target positions. The Target Position Executor receives those target positions and manages order activity to move account positions toward the latest target positions.
Today, Structure’s public execution path is target-position based. Direct order actions are roadmap functionality; when introduced, they will let strategies place, cancel, and modify orders directly for strategies that need order-level control.
For live deployments, target-position behavior is interpreted against the connected account, venue, instrument, current position state, and live venue constraints. This means live execution review should include both the target exposure emitted by the strategy and the account state available at the venue.
Conceptually, the Target Position Executor uses:
- Latest target positions from the selected revision.
- Connected account and venue context.
- Current position state where available.
- Order state and fills where available.
- Venue constraints and permissions.
- Live exchange gateway responses.
For the full executor boundary, see Target-position execution model.
Conceptual message flow
Section titled “Conceptual message flow”The live path uses these conceptual message categories.
| Message category | What it represents |
|---|---|
| Live market data | Current market data from the supported venue. |
| Strategy evaluation | The selected revision evaluating incoming data and current state. |
| Target positions | The strategy’s desired exposure after evaluation. |
| Order activity | The Target Position Executor’s activity to move toward the target position. |
| Venue order messages | Live order submissions, updates, fills, cancellations, or errors. |
| Account state | Balances, positions, margin context, and account health surfaced for monitoring where available. |
| Telemetry | Deployment status, logs, latency, errors, and health signals. |
The exact message fields vary by venue and supported product surface.
This separation matters when troubleshooting. A venue order error, an account balance issue, and a strategy target-position issue point to different boundaries.
Account and permission boundary
Section titled “Account and permission boundary”Live deployments require a connected venue account with the permissions needed for execution.
For account setup, use Connecting trading accounts. Structure is launching first with Hyperliquid, and venue-specific setup steps belong in the relevant account connection guide when available.
Do not put private keys, API secrets, or unsupported account permissions into strategy copy, prompts, or support messages. Use the product’s account connection flow for credential handling.
If access is revoked at the venue or the account is disconnected in Structure, any live deployment using that account no longer has venue authorization for it.
For account and monitoring context, see Execution context and account state.
Monitoring a live deployment
Section titled “Monitoring a live deployment”Review live deployments through:
- Deployment status.
- Selected revision.
- Strategy Variable values.
- Connected account and venue context.
- Current positions and target exposure.
- PnL where available.
- Event volume.
- Latency.
- Logs.
- Health state.
- Pause, stop, revise, and redeploy controls where available.
Live monitoring helps users decide when to stop a deployment, revise a strategy, manage account risk at the venue, or compare live behavior against prior evaluation evidence.
Monitor target exposure and current account position together. A target position describes desired exposure; account state shows the latest venue account context available to Structure.
Troubleshooting live execution
Section titled “Troubleshooting live execution”When a live deployment does not behave as expected, review the issue by boundary.
| Boundary | What to check |
|---|---|
| Revision | Confirm the selected revision, validation state, and Strategy Variable values. |
| Account | Confirm the connected account, venue, permissions, balances, and account health. |
| Market data | Confirm live market data availability for the selected venue and instrument. |
| Target positions | Review whether the strategy is emitting the intended target positions. |
| Execution | Review order activity, order status, fills, errors, and live exchange gateway messages. |
| Controls | Use pause, stop, revise, or redeploy controls according to the situation. |
If a venue-specific setup or permission issue appears, return to the account connection guide for that venue.
Difference from simulated paths
Section titled “Difference from simulated paths”| Path | Data source | Execution destination | Lifetime |
|---|---|---|---|
| Live deployment | Live market data server | Live exchange gateway | Long-running deployment |
| Paper deployment | Live market data server | Venue Simulator | Long-running deployment |
| Backtest job | Historical market data server | Venue Simulator | Finite job |
Use live deployments only when the selected revision and account context are ready for live venue operation.