Trading Overview

Trading Window

The Trading window is the primary order routing interface in StreetSmart Pro® and was designed to put important information at your fingertips to help you act on a security’s most relevant, up-to-date data.

In addition to trading and viewing quotes for stocks and indices, approved traders can access quotes and trading capabilities for single- and multi-leg options.

Stock symbols and price and volume data shown here and in the software are for illustrative purposes only. Charles Schwab & Co., Inc., its parent or affiliates, and/or its employees and/or directors may have positions in securities referenced herein, and may, as principal or agent, buy from or sell to clients.

Order Routing

All StreetSmart Pro users have access to SmartEx order routing, which is designed to seek the best trade execution for your order in the timeliest manner possible unless otherwise specified.

Users who want more control over the routing of their orders may wish to enable Direct Access Trading for their accounts. Direct Access trading entails certain risks and responsibilities. As a result, we have established special eligibility requirements for Direct Access trading. These eligibility requirements are posted on the StreetSmart Pro Center of Schwab.com, in the section called Trade Routing.

With Direct Access, in addition to SmartEx order routing, you can route orders directly to:

• Direct Access ECNs, including ARCA and NSDQ (NASDAQ-operated system that routes orders to the NASDAQ Single Book).
• Listed stocks, such as those on the New York Stock Exchange and the American Stock Exchange, are routed to one of several ECNs trading listed securities.
• Finally, Options trades are routed to the Chicago Board Options Exchange or other regional exchanges.
• Review the topic for each routing type to learn details about each routing method, or visit the Direct Access Route Comparison topic for a side-by-side view of each routing method.

No one method is best in all situations, so it is important that you familiarize yourself with the routes available and determine which best fits the market conditions.