NON-CASH BENEFIT DUE TO PROVEN TECHNOLOGY
It is well known that the return on a transaction depends on the difference between the buying and selling price of a product traded on the stock exchange. Thus, order execution is of particular importance - if it is not the best possible, the investor literally gives away valuable performance. To prevent this from happening, CapTrader offers its customers SmartRouting technology from Interactive Brokers, a solution for automatic access to the optimal prices in each case.
SO IT WORKS
For the best execution prices for our clients, we use a solution from our renowned partner Interactive Brokers: IB SmartRoutingSM searches for the best available prices for stocks, options and combinations at the time you place your order and, if possible, executes your order immediately electronically (Share SMART).
Alternatively, you can specify the stock exchange on which you wish to trade yourself via (Stocks targeted) (see image).
THE ADVANTAGES OF SMARTROUTING AT A GLANCE
Interactive Brokers' SmartRouting technology has the distinct advantage that, unlike other online brokers' systems, there is no chance of your order being routed and then forgotten. IB SmartRouting continuously evaluates the rapidly changing market conditions and dynamically redirects all or part of your orders to achieve the best possible execution price and maximize your savings.
IB SmartRouting independently represents each component of a spread order and transmits the component to the optimal execution venue.
IB SmartRouting AutorecoverySM redirects your US options orders in the event of an exchange malfunction - IB assumes the risk of possible double execution.
To provide price improvement for large volume and block orders, and to take advantage of hidden institutional order flows that may not be available on exchanges, IB has added eight dark pools to the SmartRouting logic.
What other brokers like to leave unmentioned
It becomes particularly remarkable when you consider that other statistics used in the industry give an incomplete picture: Here, sometimes only orders are taken into account where a price advantage was achieved. The percentage of orders with a price disadvantage or no price deviation at all is then left unmentioned. The IB SmartRouting statistics, on the other hand, are netted and show you the actual bottom line price advantage - taking into account all price improvements, price deteriorations and unchanged amounts. We're serious about transparency.
SMART TECHNOLOGY, SMART SOLUTIONS
If the same best bid/ask price is offered on multiple exchanges, IB SmartRouting also takes into account the respective transaction costs and liquidity withdrawal/addition fees to determine where your marketable order will be routed. Clients who want even more control over their orders can define SmartRouting strategies for non-marketable equity and options orders through the Trader Workstation trading platform. Customers using our cost-plus pricing structure can select the following routing preferences for non-marketable orders in equities:
The stock exchange with the highest discount
The stock exchange on which the share is listed
The exchange with the highest volume, which gives discounts for adding liquidity
The exchange with the highest volume that charges the lowest fee for withdrawing liquidity
In terms of options, customers can choose to have their non-market smart routed orders routed to the exchange offering the highest discount. These routing instructions can be set for individual orders via the "Other" tab in the Order Ticket window, or defined as a global default setting on the SmartRouting configuration page.
OPEN A SECURITIES ACCOUNT NOW AND USE SMARTROUTING
Through the SmartRouting function, you always buy and sell shares at the best price and especially easily.
This is because the automatic order routing takes over the selection of the exchange that is favorable for you and sends your order to the trading venue with the lowest price.
FREQUENTLY ASKED QUESTIONS ABOUT SMARTROUTING
For more information, please see our FAQs and in the Help Center
Where can I use SmartRouting at CapTrader?
The CapTrader App as well as the Account Management (Client Portal) use SmartRouting by default. With the Trader Workstation (TWS) in the product search, you can select the SmartRouting choose (Share SMART) or select an available trading venue (Share Targeted).
What does SmartRouting cost?
The SmartRouting function is of course free of charge for CapTrader customers.
Are certain exchanges excluded from SmartRouting?
No available stock exchanges are excluded from the SmartRouting algorithm, so there are no restrictions here.
Can SmartRouting result in partial executions on different exchanges?
Your order will even be split if necessary, so that partial orders can be routed to different exchanges. If these partial executions take place on the same day, this will not incur any additional costs for you.
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