Smart Routing Really Smart?

[2ripchic4]

In general, no, they are not SMART. They mostly go to market makers in return for PFOF. We have an equity route called LSPT. It hit dark and lit exchanges to find liquidity and costs $0.0015/share. Our clients like it very much for taking liquidity as it is lower cost than the ECNs and works well. We also offer the typical ECNs with DMA. Our option SMART routes give a MM a chance to take the other side but without delay get posted to an exchange if not executable. We also offer option DMA.

Bob

 

[Robert Morse]

2ripchic4-you re-posted my post but did not comment. Did you delete your question or statement?

 

[2ripchic4]

2ripchic4-you re-posted my post but did not comment. Did you delete your question or statement?

I must've done it by accident, my bad. I had a question. Why are SMRT orders sent to MMs for PFOF? I'm doing a prop challenge now and can only use SMRT route the broker said. Are SMRT orders slower than ECN routes? I like to use NSDQ.

 

[Robert Morse]

Every SMART route is difference. The SMART routes to MM are not designed for speed. They are designed to reduce your cost by providing PFOF to the broker to reduce your get rid of commissions. Our SMART route is very fast and not the same as the ones the commission free broker's use. If you want a broker that provides access to ECNs and Exchanges from 4am et until 8pm ET, with some dark pools and SMART routes during regular market hours, give us a try after your prop challenge. Is that even real trading or a SIM?

Are SMRT orders slower than ECN routes? I like to use NSDQ.

 

[2ripchic4]

Every SMART route is difference. The SMART routes to MM are not designed for speed. They are designed to reduce your cost by providing PFOF to the broker to reduce your get rid of commissions. Our SMART route is very fast and not the same as the ones the commission free broker's use. If you want a broker that provides access to ECNs and Exchanges from 4am et until 8pm ET, with some dark pools and SMART routes during regular market hours, give us a try after your prop challenge. Is that even real trading or a SIM?

I see. Thanks. It is a performance account. It is sim in Step 1 and Step 2. If pass I am eligible for real account in buying power.

 

[Robert Morse]

SIM is not real so it makes no difference if you send it to SMART, NSDQ or the moon.

I see. Thanks. It is a performance account. It is sim in Step 1 and Step 2. If pass I am eligible for real account in buying power.

 

[2ripchic4]

SIM is not real so it makes no difference if you send it to SMART, NSDQ or the moon.

I understand. I meant if am approved for live account.