IBKR Smart Router Efficient?

J

jayr95241

Hey guys,

I am trying to figure out if I am better off using smart route or routing the orders myself when trading outside RTH. This is important to me, because I often hide my orders.

I currently trade on interactive brokers and mostly use their smart router. Does anyone know if the smart order is constantly scanning routes once a limit order is submitted or does the smart router instantly send it to an exchange and stop working, even if a different exchange becomes more efficient.
 
jayr95241 said:
Hey guys,

I am trying to figure out if I am better off using smart route or routing the orders myself when trading outside RTH. This is important to me, because I often hide my orders.

I currently trade on interactive brokers and mostly use their smart router. Does anyone know if the smart order is constantly scanning routes once a limit order is submitted or does the smart router instantly send it to an exchange and stop working, even if a different exchange becomes more efficient.
More...
To what product? After making over ten thousand(Embarrassing to admit real number!) last year I don’t agree its best using their routes. Options and Stocks, use limit orders to Exchanges that are alive.
 
People shit on IB's SMART all the time, but I don't see much in the way of real world examples of the supposed problems. In my experience it pretty much does what you tell it to do.
 
From what I’ve heard, the IBKR smart only defines event specific detectives for some contracts that are routed through IB smart routing. I’m not so sure if it is something that’s effective and usable. I’m not the one for trying new things to be honest and I stick to the same brokers I’ve had for the last 2 years.
 
I've used about 5 different brokerages and IB's smart router had the best price improvement out of all of them.

I do wish it was improved upon for Canadian markets but so far works best for USA.
 
Well, I really don't understand it myself. All I can tell you, is when I trade US options I get sent through the CBOE. When I trade Canadian options, I get sent through the Montreal Options Exchange. I don't think on it any...
 
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