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IBDARK Orders

 


  
 
Products Availability Routing TWS
Stocks           US Products Smart         Attribute  
  Non-US Products   Directed      Order Type 
       Time in Force  
        Destination   

 

View Supported Exchanges  Open Users' Guide

 

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

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

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

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

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

 
 
 
 

Note:

The Reference Table above 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.

 

 

 
 
 

Note: Any stock or option symbols displayed are for illustrative purposes only and are not intended to portray a recommendation.

 
 
 

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