Pricing
Boost Margin Efficiency with our Innovative Pricing Structure
Routers
Aggressive Routes
![]() | ![]() | |||||
---|---|---|---|---|---|---|
Time | Route | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
4:00am to 8:00pm | Guardian Smart* | N/A | 0.0019 | -0.0023 | 0.0019 | Default Routing for Market, Limit, STOP Routes. Utilizes Velocity-managed destinations to maximize cost-effective routing for all market sessions. STOP orders will not trigger outside market hours |
9:30am to 4:00pm | VTRD* | GTVTRD | 0.0017 | -0.0023 | 0.0017 | High Liquidity Router, Accesses Off-Exchange Liquidity providers as well as ECNs to provide a high Fill rate and high rebate simultaneously. |
9:30am to 4:00pm | VFAN | GTVFAN | 0.0032 | -0.002 | 0.0032 | Pings Major Exchanges and Dark Pools simultaneously to maximize Liquidity access. Utilizes IOC order types to minimize market impact and supports max floor settings to keep shares hidden. |
4:00am to 8:00pm | ANGO* | GTANGO | 0.0019 | -0.0022 | 0.0019 | Velocity destination offering high fill rates and liquidity rebates based on market conditions. Accesses off-exchange liquidity to reduce costs to the trader. |
4:00am to 8:00pm | JOVV* | GTJOVV | 0.0019 | -0.0023 | 0.002 | Aggressive Route that utilizes off-exchange liquidity for cost-effective fills. Also posts to ECN on your behalf passing thru High rebates for passive orders |
4:00am to 8:00pm | LSTSP | GTLSTSP | 0.00375 | -0.002 | 0.00375 | Sweeps Major Exchanges during all Market Sessions assisting in finding Liquidity outside of Market hours. |
4:00am to 8:00pm | TLML* | GTTLML | 0.0019 | -0.0022 | 0.0019 | Velocity destination that accesses Displayed and Non-Displayed Liquidity to allow aggressive and passive trading simultaneously. |
9:30am to 4:00pm | SPDRX | GTSPDRX | 0.002 | -0.0015 | 0.002 | High Liquidity Router for NMS securities |
9:30am to 4:00pm | HEAT | GTHEAT | 0.0015 | 0.0015 | 0.0015 | High Liquidity router hits both DARK and Lit Markets |
ECN & Exchange Access
![]() | ![]() | |||||
---|---|---|---|---|---|---|
Time | Route | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
4:00am to 8:00pm | ARCA | GTARCA | 0.003 | -0.0022 | 0.0035 | Direct route to ARCA enabling higher rebates offered |
7:00am to 8:00pm | BYX | GTBYX | -0.0005 | 0.003 | 0.003 | Direct to Bats BYX Exchange |
7:00am to 8:00pm | BZX | GTBZX | 0.003 | -0.002 | 0.003 | Direct to BATS BZX Exchange |
7:00am to 8:00pm | EDGX | GTEDGX | 0.003 | -0.001 | 0.0035 | EDGX Exchange |
7:00am to 8:00pm | EDGA | GTEDGA | 0.003 | -0.002 | 0.0035 | EDGA Exchange |
8:00am to 5:00pm | IEXV | GTIEXV | 0.0015 | 0.001 | NA | IEX “Investors Exchange”. IEX Exchange delivers the ECN trading experience at a lower cost. Take advantage of IEX’s increasing midpoint liquidity to expand your trading. |
8:00am to 5:00pm | DLMT | N/A | .0015 | .001 | NA | Utilizes Discretionary Limit (D-Limit) Order Type at IEX. Dark or Displayed order type. Built to improve displayed trading on IEX. |
7:00am to 7:00pm | NQBX | GTNQBX | -0.001 | 0.003 | 0.0035 | Direct to Nasdaq BX exchange |
4:00am to 8:00pm | NSDQ | GTNSDQ | 0.003 | -0.0022 | 0.0035 | Direct to Nasdaq Exchange |
9:30am to 4:00pm | OTCX | GTOTCX | 0.004 | 0.004 | 0.004 | Direct To OTCX Exchange $.0001 for fills priced below $1 |
Dark Liquidity Aggregators
![]() | ![]() | |||||
---|---|---|---|---|---|---|
Time | Route | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
9:30am to 4:00pm | DARK | GTDARK | 0.0017 | 0.0017 | 0.0017 | Dark Pool Access offering High Liquidity Access |
9:30am to 4:00pm | SHDW | GTSHDW | .003 | .003 | .003 | Shadow Route, Sweeps Hidden Midpoint Liquidity and Rests Hidden on Major Exchanges. |
9:30am to 4:00pm | GDMX | GTGDMX | 0.002 | 0.002 | 0.002 | Dark Pool Aggregator designed for High Fill Rates |
9:30am to 4:00 pm | DKSW | GTDKSW | 0.0025 | 0.0025 | 0.0025 | Dark Pool Sweep Strategy, Utilizes Probe and Resting orders to attempt to minimize Market Impact |
Midpoint and Algo Specialty Routes
![]() | ![]() | |||||
---|---|---|---|---|---|---|
Time | Route | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
9:30am to 4:30pm | IEXD | GTIEXD | 0.0015 | 0.0010 | NA | Utilizes Discretionary Peg (D-PEG) Order Type at IEX. Dark order type, Assists Trader in Optimizing Executions within the Spread. |
9:30am to 4:00pm | VMID | GTVMID | 0.0015 | 0.001 | NA | Velocity Midpoint Route, designed to execute orders at the midpoint during market hours. |
9:30am to 4:00pm | STMD | GTSTMD | 0.002 | 0.002 | 0.002 | Accesses multiple MidPoint Destinations offering maximum liquidity |
4:00am to 8:00pm | VPOST | GTVPOST | 0.002 | 0.002 | 0.002 | Velocity Route built for Pre Market and Post Market Access, also available during market hours. |
9:30am to 4:30pm | ALGO | 0.0025 | 0.0025 | 0.0025 | Guardian Trading ALGO Suite | |
9:30am to 4:30pm | ALPHA1 | 0.0025 | 0.0025 | 0.0025 | Low-impact, high-discretion route strategy designed for rapid execution within one minute, focusing on spread capture and dark pool activity. It uses advanced price signals and queue layering logic to optimize order placement, leveraging inverted venues and synthetic DLimit orders to adapt to expected price movements. | |
9:30am to 4:30pm | POV | 0.0025 | 0.0025 | 0.0025 | The POV route is a passive strategy that tracks 7% of market volume, adjusting dynamically between 4% and 10%. With no strict timeout or completion requirement, it emphasizes securing passive fills. |
|
9:30am to 4:00pm | GTPO | GTPO | .003 | .003 | .003 | Smart Router that Pegs Orders to Near Side of Spread plus 1 Tick allowing more effective Trading within Wider Spreads |
9:20am to 4:00pm | VWAP* | GTFRVWAP | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at Volume Weighted Average Price. Select ALGO and Specify in PREF box. |
9:20am to 4:00pm | TWAP* | GTFRTWAP | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price corresponding to a user defined time period. Select ALGO and Specify in PREF box. |
9:20am to 4:00pm | TWAP5* | N/A | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 5 minute defined time period. Accepts orders at 9:20, only executes during market hours. Select ALGO and Specify in PREF box. |
9:20am to 4:00pm | TWAP10* | N/A | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 10 minute defined time period. Select ALGO and Specify in PREF box. |
9:20am to 4:00pm | TWAP20* | N/A | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 20 minute defined time period. Select ALGO and Specify in PREF box. |
9:20am to 4:00pm | TWAP30* | GTFRVWAP30 | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 30 minute defined time period. Select ALGO and Specify in PREF box. |
![]() | ![]() | |||||
---|---|---|---|---|---|---|
Time | Route | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
9:30am to 4:00pm | MDRK | GTMDRK | 0.003 | 0.003 | 0.003 | Utilizes an Arrival Price Strategy to Source Dark Liquidty at Midpoint and Rests Non-Displayed On-Exchange. Offers " I would" Sweep functionality. |
9:30am to 4:00pm | DTCH | GTDTCH | 0.003 | 0.003 | 0.003 | Arrival Price Strategy Accessing a Full Spread of Dark Venues and Order Types to enhance liquidity access. Offers " I would" Sweep functionality |
9:30am to 4:00pm | HUNT | GTHUNT | 0.003 | 0.003 | 0.003 | Functions as a Dark VWAP to source high Quality Dark Liquidity to complete orders with an Arrival Price Benchmark. |
*Guardian SMART pricing reflects highest possible cost and lowest possible rebate during market hours. For Pre-Market and Post Market sessions please see pricing for ARCA, EDGX, NSDQ routes
“Rates above only apply to NMS symbols =>$1.00 executed during Core Market
hours, charges could exceed what is listed above for executions in stocks below $1.”
hours, charges could exceed what is listed above for executions in stocks below $1.”
*Rebates on JOVV, VTRD, TLML, ANGO route apply to fills on ARCA and EDGX only
*TWAP and VWAP orders will be accepted starting at 9:20 to ensure opening auction participation if desired. Will not execute outside market hours.