What is a sweep / split?

Sweep orders signal momentum and urgency by way of intelligent market routing systems. Typically broken into smaller orders and hitting multiple exchanges, this is used by smart money to stay “irrelevant” and under the radar. This is a very good indicator that a trader wants to get into a position as fast as possible because they might know something that may affect the underlying stock’s share price the very next day or in the near future.

Split orders work the same way but are filled on single exchange systems.

Updated on: 06/11/2019