Route order to best destination based on price
. The table below illustrates available routing destinations.
|
Order Destination |
Exchange Orders |
OTC National Market Securities (NMS) |
OTC Non-NMS |
|
ARCA |
|
|
|
|
Bloomberg Tradebook |
|
|
|
|
BRUT |
|
|
|
|
INET |
|
|
|
|
NYSE Direct |
|
|
|
|
NYSE - SuperDot |
|
|
|
|
SuperMontage |
|
|
|
|
Timber Hill |
|
|
|
To speed execution, an order will be sent IOC (Immediate-or-cancel) if the venue supports this order type.
Venues closed during extended market hours are excluded from the eligible routing destinations.
Because of certain fees imposed by the specialists on the Amex, SmartRouting will not route orders for SPYs and QQQs to the Amex.
Please note that if a quote is posted by a U.S. national securities exchange and the associated size is only 100 shares, this quote may not be considered as part of the best available national price. This is because such 100-share quotes are usually "default" quotes that are not automatically executable. Such quotes have no standing under Intermarket Trading System trade-through rules.
