diff --git a/src/executor.c b/src/executor.c
index 5848752..2b4dafc 100644
--- a/src/executor.c
+++ b/src/executor.c
@@ -149,8 +149,9 @@ void executor_execute_triangle(executor_thread_t *et,
 
     char ts_buf[32];
     char corr_id[64];
-    int64_t signal_received_ms = now_mono_ms();
-    int64_t exec_start = signal_received_ms;
+    int64_t exec_start_rt   = now_realtime_ms();
+    int64_t exec_start_mono = now_mono_ms();
+    double  leg_timings[6]  = {0}; /* leg0_order, leg0_fill, leg1_order, leg1_fill, leg2_order, leg2_fill */
     snprintf(corr_id, sizeof(corr_id), "%08x%08x%08x%08x",
              (unsigned)(uintptr_t)&sig->legs.legs[0] ^ (unsigned)sig->ts_ms,
              (unsigned)sig->ts_ms ^ (unsigned)sig->book_ts_ms,
@@ -212,9 +213,11 @@ void executor_execute_triangle(executor_thread_t *et,
 
         fills[leg][5] = (double)(now_mono_ms() - t0);
 
+        /* ── Timing: leg_order_fired ── */
+        if (leg < 6) leg_timings[leg * 2] = (double)(now_mono_ms() - exec_start_mono);
+
         /* ── ORDER output ── */
         {
-            int64_t ref_ms = signal_received_ms;
             format_ts(ts_buf, sizeof(ts_buf));
             executor_write_report(
                 "%s ORDER | corr=%s | leg%d | %s | %s | vol=%.10g | "
@@ -295,6 +298,9 @@ void executor_execute_triangle(executor_thread_t *et,
             }
         }
 
+        /* ── Timing: leg_fill_received ── */
+        if (leg < 6) leg_timings[leg * 2 + 1] = (double)(now_mono_ms() - exec_start_mono);
+
         /* ── FILL output ── */
         format_ts(ts_buf, sizeof(ts_buf));
         executor_write_report(
@@ -352,25 +358,57 @@ void executor_execute_triangle(executor_thread_t *et,
             effective_bps = (profit / leg0_in) * 10000.0;
     }
 
-    int64_t total_ms = now_mono_ms() - exec_start;
+    int64_t total_ms = now_mono_ms() - exec_start_mono;
 
-    /* ── Build timing string (relative to signal_arrive realtime) ── */
-    int64_t now_rt = now_realtime_ms();
-    char timings_str[256] = "";
-    if (sig->t_sock_arrive_ms > 0) {
-        snprintf(timings_str, sizeof(timings_str),
-                 "t-2_book_snapshot=%.1fms "
-                 "book_update_arrived=%.1fms "
-                 "t-1_eval_complete=%.1fms "
-                 "t_signal_created=%.1fms "
-                 "signal_received=0.0ms "
-                 "execution_complete=%.1fms",
-                 (double)(sig->ts_ms - now_rt),
-                 (double)(sig->t_sock_arrive_ms - now_rt),
-                 (double)(sig->t_arrive_ms - now_rt),
-                 (double)(sig->t_eval_ms - now_rt),
-                 (double)(now_rt - now_rt));
+    /* ── Build timing string ── */
+    double exec_complete = (double)(now_mono_ms() - exec_start_mono);
+    char timings_str[384] = "";
+    int tp = 0;
+
+    /* Pipeline timings (relative to signal receive time, realtime clock) */
+    if (sig->book_ts_ms > 0 && sig->ts_ms > 0) {
+        double t2 = (double)((int64_t)sig->book_ts_ms - exec_start_rt);
+        tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                       "t-2_book_snapshot=%.1fms ", t2);
     }
+    if (sig->t_sock_arrive_ms > 0) {
+        double sa = (double)((int64_t)sig->t_sock_arrive_ms - exec_start_rt);
+        tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                       "socket_arrived=%.1fms ", sa);
+    }
+    if (sig->t_arrive_ms > 0) {
+        double ba = (double)((int64_t)sig->t_arrive_ms - exec_start_rt);
+        tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                       "book_update_arrived=%.1fms ", ba);
+    }
+    if (sig->t_eval_ms > 0) {
+        double te = (double)((int64_t)sig->t_eval_ms - exec_start_rt);
+        tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                       "t-1_eval_complete=%.1fms ", te);
+    }
+    if (sig->ts_ms > 0) {
+        double sc = (double)((int64_t)sig->ts_ms - exec_start_rt);
+        tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                       "t_signal_created=%.1fms ", sc);
+    }
+
+    tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                   "signal_received=0.0ms ");
+
+    /* Leg execution timings (monotonic, relative to exec start) */
+    for (int l = 0; l < 3; l++) {
+        if (leg_timings[l * 2] > 0) {
+            tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                           "leg%d_order_fired=%.1fms ", l, leg_timings[l * 2]);
+        }
+        if (leg_timings[l * 2 + 1] > 0) {
+            tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                           "leg%d_fill_received=%.1fms ", l, leg_timings[l * 2 + 1]);
+        }
+    }
+
+    tp += snprintf(timings_str + tp, sizeof(timings_str) - tp,
+                   "execution_complete=%.1fms", exec_complete);
 
     /* ── Build fills string ── */
     char fills_str[1024] = "";