{"slug":"how-long-a-market-order-takes-to-fill","qid":"sip_reporting_lag","label":"sip_reporting_lag","post_title":"how-long-a-market-order-takes-to-fill","post_url":"/blog/how-long-a-market-order-takes-to-fill#q-sip_reporting_lag","columns":["symbol","median_report_microseconds","p95_report_microseconds"],"rows":[{"symbol":"AAPL","median_report_microseconds":458,"p95_report_microseconds":464971},{"symbol":"MSFT","median_report_microseconds":558,"p95_report_microseconds":442909},{"symbol":"SPY","median_report_microseconds":608,"p95_report_microseconds":357114},{"symbol":"NVDA","median_report_microseconds":7392,"p95_report_microseconds":487876},{"symbol":"KO","median_report_microseconds":94509,"p95_report_microseconds":501996}],"shape":"ranking","sql":"SELECT\n    ticker AS symbol,\n    round(quantileDeterministic(0.5)(\n        toFloat64(dateDiff('microsecond', participant_timestamp, sip_timestamp)),\n        cityHash64(ticker, sequence_number)), 0)  AS median_report_microseconds,\n    round(quantileDeterministic(0.95)(\n        toFloat64(dateDiff('microsecond', participant_timestamp, sip_timestamp)),\n        cityHash64(ticker, sequence_number)), 0)  AS p95_report_microseconds\nFROM global_markets.stocks_trades\nWHERE ticker IN ('SPY', 'NVDA', 'AAPL', 'MSFT', 'KO')\n  AND sip_timestamp >= toDateTime('2026-09-16 14:00:00', 'UTC')\n  AND sip_timestamp <  toDateTime('2026-09-16 14:30:00', 'UTC')\n  AND participant_timestamp >  toDateTime('2026-09-16 00:00:00', 'UTC')\n  AND participant_timestamp <= sip_timestamp\nGROUP BY ticker\nHAVING count() > 100\nORDER BY median_report_microseconds","computed_at":"2026-10-02T15:05:39.891457+00:00","elapsed":0.003299287}