{"id":8617,"date":"2022-12-05T16:56:00","date_gmt":"2022-12-05T21:56:00","guid":{"rendered":"https:\/\/ibkrcampus.eu\/trading-lessons\/creating-a-direct-routed-order-in-classic-tws\/"},"modified":"2024-02-15T22:00:01","modified_gmt":"2024-02-15T22:00:01","slug":"creating-a-direct-routed-order-in-classic-tws","status":"publish","type":"trading-lessons","link":"https:\/\/www.interactivebrokers.eu\/campus\/trading-lessons\/creating-a-direct-routed-order-in-classic-tws\/","title":{"rendered":"Creating a Direct Routed Order in Classic TWS"},"content":{"rendered":"\n

The Interactive Brokers (IBKR) Trader Workstation Classic TWS screen allows an IBKR Pro client to use IBKR\u2019s SmartRouting or route an order directly to a specific exchange. This video explains how the investor can select the individual exchange to route an order to.<\/p>\n\n\n\n

Why might an investor direct route an order?<\/u><\/strong><\/p>\n\n\n\n

While we should note that SmartRouting an order is likely to provide an investor with the best overall fill at the lowest overall execution cost, there are a couple of reasons why an investor might wish to direct route an order.<\/p>\n\n\n\n

    \n
  1. Investor preference<\/li>\n\n\n\n
  2. Liquidity or rebates<\/li>\n<\/ol>\n\n\n\n

    In Classic TWS, once an order has been created the investor can route an order directly to an exchange by clicking on the Destination data column<\/strong>.<\/p>\n\n\n\n

    How to add the Destination data column in Classic TWS?<\/u><\/strong><\/p>\n\n\n\n

    If the Destination column is not shown, right-click on any of the lower column names, scroll down to \u201cInsert column before,\u201d go to the Status<\/strong> area and select Destination<\/strong>.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    The investor may be asked if they want to apply this change to other similar pages. Choosing Yes will add the Destination column to other Classic TWS tabs.<\/p>\n\n\n\n

    How to direct route an order in Classic TWS?<\/u><\/strong><\/p>\n\n\n\n

    To route directly to an exchange, click on the cell in the Destination column and a drop-down menu will appear. Next, the investor can expand the list of exchanges by clicking on the plus sign next to Directed<\/strong>. The list displays all exchanges available where the order can be submitted to for that instrument.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    Next, the investor chooses the exchange that they want to route the order to by clicking on it. Once select the desired exchange will appear in the Destination<\/strong> data column.<\/p>\n\n\n\n

    Please note certain order types and algorithms may not be supported by every exchange. For more information on order types and exchanges they are supported on, please visit the Interactive Brokers\u2019 website.<\/p>\n\n\n\n

    After the investor reviews the order, they can click on Transmit to send the order. The investor can monitor the order in the Pending tab in Classic TWS.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    An investor can choose which exchange to directly route an order to through the Interactive Brokers (IBKR) Trader Workstation (TWS) Classic TWS screen.<\/p>\n","protected":false},"author":899,"featured_media":8659,"parent":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"contributors-categories":[149],"traders-academy":[100,103,105],"class_list":{"0":"post-8617","1":"trading-lessons","2":"type-trading-lessons","3":"status-publish","4":"has-post-thumbnail","6":"contributors-categories-interactive-brokers","7":"traders-academy-beginner-trading","8":"traders-academy-level","9":"traders-academy-trading-lesson"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nArchives | Traders' Academy | IBKR Campus<\/title>\n<meta name=\"description\" content=\"An investor can choose which exchange to directly route an order to through the IBKR Trader Workstation Classic TWS screen.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/8617\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Creating a Direct Routed Order in Classic TWS\" \/>\n<meta property=\"og:description\" content=\"An investor can choose which exchange to directly route an order to through the IBKR Trader Workstation Classic TWS screen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/trading-lessons\/creating-a-direct-routed-order-in-classic-tws\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-15T22:00:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2022\/12\/Classic-Direct-Route-700x394-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"394\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/trading-lessons\\\/creating-a-direct-routed-order-in-classic-tws\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/trading-lessons\\\/creating-a-direct-routed-order-in-classic-tws\\\/\",\n\t \"name\": \"Creating a Direct Routed Order in Classic TWS - 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