Automated Order Routing definition
Automated Order Routing or “AOR” means an algorithm used by “Interactive Brokers” to find the execution venue where to obtain the best possible price for the Client;
Automated Order Routing or “AOR” means a type of Direct Market Access effected by contractual arrangement in which a Trading Participant permits its clients to transmit orders for execution directly to the ATS through its infrastructure. This shall be the first type of DMA to the ATS, therefore all references to DMA herein shall refer to access by AOR.