diff --git a/crates/fidc-core/src/broker.rs b/crates/fidc-core/src/broker.rs
index ef4e34b..ebda0de 100644
--- a/crates/fidc-core/src/broker.rs
+++ b/crates/fidc-core/src/broker.rs
@@ -5589,7 +5589,7 @@ where
             if remaining_qty == 0 {
                 break;
             }
-            let available_qty = if quote_quantity_limited {
+            let mut available_qty = if quote_quantity_limited {
                 let top_level_liquidity = match side {
                     OrderSide::Buy => quote.ask1_volume,
                     OrderSide::Sell => quote.bid1_volume,
@@ -5600,6 +5600,15 @@ where
             } else {
                 remaining_qty
             };
+            if self.volume_limit {
+                let raw_limit = ((quote.volume_delta as f64) * self.volume_percent).floor() as u32;
+                let volume_limited = if side == OrderSide::Sell && allow_odd_lot_sell {
+                    raw_limit
+                } else {
+                    self.round_buy_quantity(raw_limit, minimum_order_quantity, order_step_size)
+                };
+                available_qty = available_qty.min(volume_limited);
+            }
             if available_qty == 0 {
                 continue;
             }
@@ -6076,6 +6085,76 @@ mod tests {
         assert!(liquidity_limited.quote_quantity_limited(MatchingType::MinuteLast));
     }
 
+    #[test]
+    fn minute_last_volume_limit_caps_quote_volume_delta_without_liquidity_limit() {
+        let date = chrono::NaiveDate::from_ymd_opt(2025, 1, 2).expect("valid date");
+        let broker = BrokerSimulator::new(ChinaAShareCostModel::default(), ChinaEquityRuleHooks)
+            .with_matching_type(MatchingType::MinuteLast)
+            .with_volume_limit(true)
+            .with_volume_percent(0.25)
+            .with_liquidity_limit(false);
+        let mut quote = limit_test_quote(10.0, 9.99, 10.01);
+        quote.timestamp = date.and_hms_opt(10, 15, 0).expect("valid timestamp");
+        quote.volume_delta = 4_900;
+        quote.ask1_volume = 0;
+        quote.bid1_volume = 0;
+
+        let fill = broker
+            .select_execution_fill(
+                &limit_test_snapshot(),
+                &[quote],
+                OrderSide::Buy,
+                MatchingType::MinuteLast,
+                Some(date.and_hms_opt(10, 15, 0).expect("valid timestamp")),
+                None,
+                3_200,
+                100,
+                100,
+                100,
+                false,
+                None,
+                None,
+                None,
+            )
+            .expect("minute last fill");
+
+        assert_eq!(fill.quantity, 1_200);
+    }
+
+    #[test]
+    fn minute_last_volume_limit_rejects_sub_lot_quote_volume() {
+        let date = chrono::NaiveDate::from_ymd_opt(2025, 1, 2).expect("valid date");
+        let broker = BrokerSimulator::new(ChinaAShareCostModel::default(), ChinaEquityRuleHooks)
+            .with_matching_type(MatchingType::MinuteLast)
+            .with_volume_limit(true)
+            .with_volume_percent(0.25)
+            .with_liquidity_limit(false);
+        let mut quote = limit_test_quote(10.0, 9.99, 10.01);
+        quote.timestamp = date.and_hms_opt(10, 15, 0).expect("valid timestamp");
+        quote.volume_delta = 100;
+        quote.ask1_volume = 10_000;
+        quote.bid1_volume = 10_000;
+
+        let fill = broker.select_execution_fill(
+            &limit_test_snapshot(),
+            &[quote],
+            OrderSide::Buy,
+            MatchingType::MinuteLast,
+            Some(date.and_hms_opt(10, 15, 0).expect("valid timestamp")),
+            None,
+            3_200,
+            100,
+            100,
+            100,
+            false,
+            None,
+            None,
+            None,
+        );
+
+        assert!(fill.is_none());
+    }
+
     #[test]
     fn daily_matching_does_not_require_intraday_quote_quantity() {
         let broker = BrokerSimulator::new(ChinaAShareCostModel::default(), ChinaEquityRuleHooks)