B-Book

B-Book - A broker execution model (also known as the Market Maker model) where the broker internalizes client orders and takes the opposite side of your trade. In a B-Book setup, trades are not passed to external markets; instead, the broker fills them in-house (via a dealing desk). This allows the broker to offer features like fixed spreads, but it creates a potential conflict of interest (the broker may profit when clients lose, and vice versa). Reputable brokers manage this risk carefully, but traders (and robots) should be aware of the execution method because it can impact pricing and trade execution during volatile periods.