In this article https://www.risk.net/awards/7741391/flow-market-maker-of-the-year-citadel-securities describing Citadel Securities the market maker, it says
The firm’s electronically executed US Treasuries volume increased by 90%, and voice trades rose by 44% as it gained market share during the period. On dealer-to-client trading platform Tradeweb, the business had a risk-hit ratio of 34% during March, measuring the number of quotes to execution.
What does a "risk-hit ratio" of 34% mean?
What does "number of quotes to execution" mean? Is this number the higher the better?