> For the complete documentation index, see [llms.txt](https://docs.tread.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tread.fi/creating-and-submitting-orders/advanced-settings/participation-rate-target.md).

# Participation Rate Target

The **Participation Rate Target** defines the **desired rate at which an order participates in market volume**. The engine dynamically **adjusts execution** to match this target, ensuring steady participation based on **real-time market conditions**.

#### **How It Works**

* **Set as a percentage of total market volume**—e.g., a 10% participation rate means the order aims to execute 10% of all market volume over time.
* The engine uses a mix of **passive and aggressive child orders** to stay on target.
* **Pre-Trade Analytics** estimates the expected time to completion, but actual execution varies **based on market conditions**.

#### **Considerations**

* **Market-Dependent Execution** – Time to fill may **extend or shorten** depending on liquidity and market activity.
* **Flexible Strategy** – The engine **adjusts execution aggressiveness** dynamically if it starts falling behind the target participation rate.

This setting is ideal for traders who want **consistent market presence** while maintaining **control over execution speed and market impact**.