The IB Smart router

Discussion in 'Retail Brokers' started by Sky123987, Jan 17, 2008.

  1. If you are taking liquity will the IB SMART router try to hit, NYSE then the ecns in terms of the lowest ecn fees?

  2. Well I called IB and after speaking with the most rude rep on the phone..Told me that I call too much... you don't say that to customers who do 3 to 4 million month.

    Anyway he told me that SMART for marketable orders will route to whatever exchange is posting the NBBO or if 2 exchanges have the same price, whichever exchange is designated the "Primary Exchange". This depends on which exchange is deemed by the exchange to be the primary exchange. I guess at certain times for each stock the primary exchange might be NYSE, but then it might switch to ARCA?

    is this true?

    I just wish it would be SMART, and if there were 2 exchanges offering the same price it would take the exchange that has the lowest fee for taking liquity