Execution Quality Comparison

How does it work?

Our exclusive XpressRouter^® technology is always on the lookout for price improvement opportunities, working to get a better price for your order than the National Best Bid or Offer (NBBO) - below the best offer for buys or above the best bid for sells.

Our goal is your best execution. When routing your order, we seek execution venues that consistently provide fast fills at prices consistently better than the displayed quote.

If your order executes outside NBBO, we may take action with the market center and request a price adjustment. Some prices outside NBBO occur due to market volatility or high trade volume. We regularly review executions to ensure best execution.

Our exclusive XpressRouter^SM technology is always on the lookout for price improvement opportunities, working to get a better price for your order than the National Best Bid or Offer (NBBO) - below the best offer for buys or above the best bid for sells.

How does it work?

1. We quote all U.S. exchanges simultaneously to find the best possible price for your order.
2. We scour liquidity sources for potential price improvement.
3. We push orders to a broker for manual review if the market is artificially wide (too much space between the bid and ask).
4. We constantly monitor the exchanges to make sure your order stays in the marketplace for execution.
5. When a large order exhausts the NBBO quote, we wait for the quote to refresh to avoid blowing through multiple price levels.
6. Exchanges having technical issues are automatically removed from the router and existing limit orders are moved to a new exchange.