Hotfix – A hotfix is a quick, high-priority update applied outside the normal release cycle to fix a critical issue. It is essentially an emergency patch. In automated trading, a hotfix might be deployed if a serious bug (e.g. an order execution error) is discovered in production. Hotfixes are riskier because they are rushed and applied live, but they are necessary when immediate correction outweighs the risk of waiting for a regular release. Unlike scheduled updates, hotfixes address urgent problems and may have a separate version tag or increment.