IB - changing default for smart to go to ISLD?

G

gaj

i'm on IB, fees are bundled together.

sometimes i'll place a hidden order. if i use SMART, a chunk of time it goes to BATS and has a low probability of getting filled. if i direct route to ISLD, it has a better chance of getting filled.

so, i'd like to have my initial default routing for SMART to always check ISLD first.

is there a way to do that?

i checked edit / global configuration / smart routing and don't see anything. all i see there are exclude exchange with non-firm (unchecked), exclude exchanges with non-electronic (unchecked), Maximum allowed from NBBO (blank), seek price improvement (unchecked), pre-open re-route (unchecked), smart multipurpose (default checked, display checked but greyed), smart highest rebate (both unchecked).

thanks.
 
Try setting the smart routing preference to: "highest volume exchange with rebate".

Quote from gaj:

i'm on IB, fees are bundled together.

sometimes i'll place a hidden order. if i use SMART, a chunk of time it goes to BATS and has a low probability of getting filled. if i direct route to ISLD, it has a better chance of getting filled.

so, i'd like to have my initial default routing for SMART to always check ISLD first.

is there a way to do that?

i checked edit / global configuration / smart routing and don't see anything. all i see there are exclude exchange with non-firm (unchecked), exclude exchanges with non-electronic (unchecked), Maximum allowed from NBBO (blank), seek price improvement (unchecked), pre-open re-route (unchecked), smart multipurpose (default checked, display checked but greyed), smart highest rebate (both unchecked).

thanks.
More...
 
thanks IB, but i don't have that option? i have:

SMART Option Routing Algorithms

Default Display
(check) (greyed, checked) SMART Multipurpose (SMART)
(uncheck) (uncheck) SMART Highest Rebate (SMART Rebate)


it has above that information about Destination, but i don't have that drop down selector.
 
You need to switch to cost+ (aka unbundled) commission schedule, and you will get those options. Your other option direct routing.

Quote from gaj:

thanks IB, but i don't have that option? i have:

SMART Option Routing Algorithms

Default Display
(check) (greyed, checked) SMART Multipurpose (SMART)
(uncheck) (uncheck) SMART Highest Rebate (SMART Rebate)


it has above that information about Destination, but i don't have that drop down selector.
More...
 
ok, thanks for letting me know. i'm not switching, so i'll just do what i've been doing (with direct routing). i just remembered at one point, there was an option - i think for BATS - to exclude it for SMART, or maybe put it down on the list, or something similar.

thanks.
 
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