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Customers can direct non-marketable U.S. stock orders to the IBKRATS destination to add liquidity. Orders directed to IBKRATS are tagged as "post only," will be limited to NOT HELD orders, and are posted in IB's order book where incoming SmartRouted orders from other IB customers are eligible to take liquidity by trading against them.

Liquidity-adding orders directed to IBKRATS may be appropriate if you are trying to buy or sell a block of stock by trading against other IB customers without exposing your interest to the public markets. Orders directed to IBKRATS are not displayed in the market and are not displayed to other IB customers. This liquidity is detected only by the IB SmartRouting process, which will include IBKRATS in its list of potential routing destinations. Only non-marketable (liquidity adding) orders can be directed to IBKRATS. Marketable orders (orders that are executable against an order already resting at IBKRATS) will generally be rejected. If you want an immediate fill or if you want to expose your trading interest in the public markets, you should not direct your order to IBKRATS.

For customers choosing to direct liquidity-providing orders to IBKRATS, no maker/taker charges or credits will be applied.

For customers choosing IB's Flat Rate commission structure, ordinary commissions and fees apply.

For customers choosing IB's Cost Plus commission structure, smart-routed orders that are filled on IBKRATS will be charged an exchange fee for removing liquidity in addition to the Cost Plus commission.

Products Availability Routing TWS
Stocks US Products Smart Attribute
Non-US Products Directed Order Type
Lite Time in Force
Open Users' Guide


The Reference Table to the upper right provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.