Smart order routing

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Smart order routing involves the ability for buy- and sell-side firms to achieve best execution of trades while minimizing market impact. It was promoted in the U.S. as a technological answer to increasingly fragmented markets,[1] to help firms search for hidden liquidity and find opportunities in dark pools, and to use algorithms to get the best results without moving the market. [2]


  1. What's so smart about order routing. The Trade News.
  2. Smart Order Routing. StreamBase.