Order routing + "exchange" in instrument manager?

[heech]

Hi,

What's the significance of "exchange" for an instrument?

I've already learned (the hard way) that if your exchange is not set correctly, then with IB, your order will be set permanently as "pending".. never rejected or anything else. So, I've been manually making sure my NYSE stocks are NYSE, Nasdaq are Nasdaq, etc, etc.

But what about ISLAND, ARCA, etc? If I don't select ISLAND, does that mean IB will not route to the ECN? Is NinjaTrader only routing to the specific exchanges that are selected for an instrument?

I just assumed SMART would be used as the routing method... if it isn't, how do I select it??

[heech]

Hmm, never mind, just checked my trade records... clearly it's routing to SMART/Island as appropriate.

Looks like all I need to do is make sure NYSE/NASDAQ are set...?

[NinjaTrader_Kyle]

Hi Heech,

Thank you for your post.

Exchange does effect order routing. As a general rule, if you are receiving data, the instrument is configured properly.

Depending on which instrument you are using, default may be the appropriate exchange. For instruments which already exist in the NinjaTrader master instrument list, the current settings are appropriate.

Please let me know if you have any additional questions.

[heech]

Kyle,

Like many others using IB as my broker, I'm not using them as my datafeed. So, I get data fine (via IQFeed), but orders disappear as previously mentioned ("pending" indefinitely). And the NinjaTrader master instrument list is unfortunately *very* out of date, at least with US equities.

[NinjaTrader_Kyle]

Hi heech,

Thank you for your reply.

In that case, I would suggest connecting only to IB to test the instruments.