Recently IB implemented these user configurable Smart routing strategies: â¢ Smart - allows the Smart router to choose the best destination to maximize the rebate. This is the default strategy if no other is selected. â¢ Highest Rebate - Routes to the exchange with the highest rebate â¢ Listing exchange - this is the current Smart process and routes to the listing exchange for the contract. â¢ Highest volume exchange with rebate â¢ Highest volume exchange with lowest taker fee The default is Smart. Smart seems to have worked better for me than their earlier strategy which was basically "Listing exchange", but even Smart sometimes results in being charged a taker fee when I would expect a rebate. Has anyone tried any of these other strategies?