DART Settings

DART is a proprietary direct-access routing tool used by the trading platform to send orders to the market. This tool provides a way for broker/dealers to tailor the system to the needs of their customer base. Use the DART Settings page to determine which routes DART should use (and in what order) for different equity types including: Listed stocks, OTCs, BBs, and Pinks. A Punt List (backup routing list) should also be defined, in the event that a preferred route is unavailable.

 

The route setting options here apply to the PRO platform only. Settings for the Plus platform are listed but cannot be changed.

 

 

DART Settings

 

 

The DART Settings window provides several pieces of important information:

 

 

  1. Route Code: A letter or number used by this system to symbolize a route (Example: A = ARCA… not AMEX)
  2. Description: The common name of the route (Example: ARCA)
  3. Exchanges: Denotes the underlying exchanges to which the route directs orders. These letters correspond to standard  industry nomenclature. (Example: ARCA lists “NAPQ” as exchanges, which translates to “NYSE, AMEX, PSE, and NASDAQ”)
  4. Enabled: Lists routes enabled for use in the platform. (See Update Routes for more information.)

 

[Note that the Route codes used by DART are NOT the same as the industry standard Exchange Codes ( A = ARCA… not AMEX). See the Route Legend for more information.] Fields are case-sensitive. 

 

Update DART Settings

 

  1. Click the DART Settings link under the Trades tab.
    The Update DART Settings window will appear, with fields for designating routes in the order that they should be tried.

  2. Two sequences will appear to the right of each field.

    DART Settings

    The first is the default sequence used by DART. The second is a list of all possible route codes for the field. [Note that the Route codes used by DART are NOT the same as Exchange Codes ( A = ARCA… not AMEX). See the Route Legend for more information.] Fields are case-sensitive. 

  3. Set a routing sequence for Listed Stocks. [Example: Typing “AOXI” in the Listed field would route listed stocks first to A (ARCA) then O (OES) then X (NYFIX) then I (INET)]


  4. Set a routing sequence for OTCs  [Example: Typing “AIBTS” in the OTC field would route OTC stocks first to A (ARCA) then I INET) then B (BRUT) then T (TRAC)  then S (SOES)]

  5. Set a routing sequence for BBs  [Example: Typing “ZPF” in the BB  field would route bulletin board stocks first to Z (NITE) then P (LAMP) then F (FANC)]

  6. Set a routing sequence for Pinks [Example: Typing “ZP” in the Pink field would route pink sheet orders  first to to Z (NITE) then P (LAMP)]

     

  7. Define a Punt List (backup routing list) for Listed stocks and OTCs according to the pattern above. 

     

  8. Click the Update DART Settings button to save your changes.


    DART settings only apply to the Pro platform.     Routes for orders placed on  Plus and Direct platforms are fixed and cannot be changed in this system. (See list at the bottom of the Update DART page for details).