Smart Order Routing
Smart Order Routing is a mechanism by which a trading platform discovers the best price for a given instrument across different exchanges. The Smart Order Routing (SOR) needs to be enabled for various orders irrespective of the origin (i.e Retail, Institutional, Prop etc). They may be treated differently but the system should provide a order type called SOR which forces the trading platform to seek best price. SOR is implemented in NEST and is available to exchanges supporting it. .