What is the SMART order routing destination?

IBKR clients can add liquidity and interact with our retail order flow by direct-routing their US equity and index options orders to the IBUSOPT destination. Orders routed to IBUSOPT will be held at this liquidity-providing destination, and will be eligible to participate in an exchange auction to potentially fill against other SMART-routed marketable orders from IBKR clients…

Yes, Interactive Brokers offers an order type entitled Retail Price improvement. For more information on this order type please visit the, "Retail Price Improvement Orders," page.

IBKR has smart routing capabilities which can direct orders to seek price improvement by scanning for exchanges which may have hidden liquidity at prices that are more favorable than the best bid or offer. Click…

We support the following routing destinations for IBKR Order Management System (IBKR OMS):

• IB SmartRouting^SM - Send electronic orders to the IB SmartRouting engine, which searches for the best price across different market centers trading the same product and seeks to execute your order at the best possible price…

In TWS Global Configuration, the Smart Routing settings page provides checkboxes that allow you to either:

• Allow Smart routing to search for hidden liquidity at a better price than the NBBO in dark pools for stock/warrant orders ("Seek Price Improvement" checkbox)…