IBDARK Orders

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 IB's order book where incoming SmartRouted orders from other IB 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 IB 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 IB customers. This liquidity is detected only by the IB 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 IB's Flat Rate commission structure, ordinary commissions and fees apply.

For customers choosing IB'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.