Will IB still use Smart Order if you are using a 3rd party platform?

Hey,

If you are using a 3rd party platform such as DasTrader through IB API, will IB still execute your trades using Smart Routing?

Thanks

 

Yes, if the order is sent as SMART (not preferenced to a specific venue)

 

So the platform needs to support SMART orders, otherwise not possible. Right?

 

It is just an order type and the default one. I would assume they would if they are using an API to route to us.

 

Thank you for your reply

 

I'd like to add to this, if possible. I'm not entirely certain who handles what in the DAS - IB combo.

I understand that DAS provides the data and the software, but after sending the order who handles the routing, and the pre-trade risk management?

DAS touts being colocated at the Nasdaq data center.
Do the orders routed to Nasdaq bypass IB's servers and go straight to DAS and then to Nasdaq? How about the other routes not supported by DAS, but supported by IB?
Do any venue fees change?

I'm sorry if sounding like a noob, but I'm trying to paint a mental map of the road an order takes in a broker + third-party OMS situation.

 

You could ask Das customer service about it. They have a live chat or if by email they are quick to respond.
If you do it and get an answer, please post it here as I would like to know as well.

Thanks