What is 'slippage' and what factors influence it during high-volatility periods?

• A. Slippage is the difference between the expected price and the actual execution price; influenced by liquidity, order size, market volatility, and latency.
• B. Slippage is the difference between the expected price and the actual execution price, but it is not influenced by liquidity or market size.
• C. Slippage occurs only when a broker charges a fee.
• D. Slippage is the spread between far-off quotes.

Answer: (B)