Discussion in 'Financial Futures' started by andrasnm, Sep 9, 2001.
Does IB offer superSOES now?
Didn't see it on their website. thx
yes, you need to search for supersoes (no space) to find the info:
NASDAQ has introduced a new version of its Small Order Execution System (SOES), called SuperSoes. SuperSoes is NASDAQ's primary order routing system and will provide automatic execution for orders up to 1,000,000 shares for National Market System securities. SuperSoes handles broker-dealer proprietary orders as well as odd lot orders, and operates from 9:30 a.m. to 4:00 p.m. Full implementation of SuperSoes began on July 30, 2001 and includes all National Market System securities.
Interactive Brokers offers customers full access to SuperSoes:
For customers using IB's Best Execution Order Routing System, SuperSoes is one of the destinations searched by the IB system, along with any ECN's on the IB network.
Customers can also directly route their orders to SuperSoes, by selecting "Nasdaq" or "SOES" when listing a stock on the Trader Workstation.
The "ECN Best" routing option searches only ECN's on the IB network and will not send orders to SuperSoes.
Please note that for Nasdaq stocks that are not National Market System securities (e.g., Nasdaq Small Cap stocks), NASDAQ's current SOES and Selectnet will remain in operation according to the same basic rules as in the past. IB customer orders in these securities that are routed to "SOES" will go to SOES, and orders routed to "Nasdaq" will be preferenced to a market maker or ECN via Selectnet.
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