Why use smart routing?

Interactive Brokers offers its customers a software product referred to as "Smart" order routing. Smart Routing software continually scans competing markets and automatically routes orders directly to the best ECN or market center -- based on price but also taking into account factors such as the availability of automatic order execution.

Each ECN and market center administers its own set of trading rules. Accordingly, Customers that do not select Smart Routing should be sure to familiarize themselves with the various trading and order handling rules of those market venues to which they intend to direct route their orders. A complete listing of market venues along with website links is made available on the website under the Products and then Exchange Listings menu options.

In order to Smart Route your order, select SMART in the Destination field when placing the order.

For additional information regarding Smart Routing, select the Trading and then Smart Routing menu options from the website.