IB SmartRoutingSM
IB SmartRouting is powered by a proprietary algorithm that continually scans all markets on which a security is trading and routes your order to the best destination based on price, while taking into other account factors such as the availability of automatic execution. The algorithm continues to monitor competing markets until your order is executed. If a better price becomes available while your order is working, IB SmartRouting may reroute your order to the best market.
To Smart Route your order
In the Filter column of the Contract Selection box choose Smart as the Exchange.
You can elect to exclude specific exchanges from the SmartRouting logic process. Note that when you exclude an exchange, you are also excluding that exchange's market data.
To exclude an exchange from the SmartRouting logic
On the Configure menu select Misc,then select Smart Routing.
In the Excluded Exchanges dialog box, enter an underlying symbol.
From the Security Type drop down list select an instrument type.
From the Exchanges drop down list select an exchange to exclude from Smart order routing.
Note: The Security Type and Exchanges lists are context- sensitive, which means that their content is automatically updated based on your entries. If an instrument type or exchange is not listed in the drop down list, this means that the current selection is not supported.
To exclude multiple exchanges, enter the underlying symbol on multiple lines.