SMART ORDER ROUTING

Smart order routing includes the ability to buy and sell side firms to achieve best execution of trades, while minimizing the impact on the market.
Upon examination of the proposal, feedback of the stock exchanges and based on the recommendations of the Technical Advisory Committee, it has been decided to permit Smart Order Routing in Indian Securities Market. ...
Furthermore, the human trader is increasingly replaced by an algorithmic trading engine, which makes routing decisions based on continuous real-time updating of its model of market liquidity. Doing this well is “smart order routing.” ...

Smart_Order_Routing in WIKIPEDIA