Interactive Brokers’ IBot gets to learn traders’ phrasing style

Maria Nikolova

The AI solution will perform better in situations where it is not certain what the trader is asking about.

As FinanceFeeds has earlier reported, electronic trading major Interactive Brokers Group, Inc (NASDAQ:IBKR) is working to enhance the algorithms behind natural language solution IBot. The latest beta version of Trader Workstation (TWS), the proprietary trading platform developed by Interactive Brokers, will enable IBot to learn the phrasing style of a particular trader.

This skill will be especially useful in uncertain situations, that is, in situations where the robot is not certain what the trader is asking about. In cases where there is more than one interpretation of one’s command, IBot will ask the trader to choose among a number of options. The selection will be remembered, and will be used to improve IBot’s comprehension. In short, the IBot will gradually learn one’s phrasing style.

Cases when the bot encounters an unsupported command are something normal. AI solutions have to be trained on a regular basis to boost their area of expertise. Typically, if IBot gets an unsupported enquiry, a “Potentially misunderstood” warning message is returned, accompanied by a best-efforts result.

Overall, the solution supports a grand variety of commands, ranging from “Buy 300 more shares” to “Show my account margin”. IBot also assists traders in scanning the markets for, say, the most active US shares. The solution also offers information on market depth, helps work with option chains, simplifies work with calendar, etc.

Earlier in 2017, Interactive Brokers integrated its website search with IBot to allow educational and task-based returns. Thanks to the enhancement, IBot got able to answer such queries as “How do I fund my account?” and “How do I transfer funds?” by returning the top five best information links from Interactive Brokers’ website.

IBot was first launched in the autumn of 2016 with the purpose to provide a natural way to trade. Using “natural language” means that traders are able to escape from the disadvantages that come with a standard interface, as they are able to speak (or type) commands without worrying about the precise wording.

Read this next

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

Institutional FX

DGCX brokers authorized to provide derivatives trading and clearing services

The DFM is looking to provide multiple asset classes such as; equities, ETFs, equities’ futures, crude oil futures, etc. to meet the growing demand from its diversified base of local and international investors.

Digital Assets

EQONEX leaves “crowded crypto exchange space” amid crypto winter

“The recent extreme market volatility and declining trading volumes have added to the headwinds being felt by exchange operators. We take a realistic view that our exchange will not move the needle for us financially over the near-to-medium term.”

Digital Assets

FTX and Paradigm partner for spreads trading: lower risk, lower fees

“This structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”

Industry News

SEC uncovers online retail brokerage hacking scheme

Fraudsters were able to sell their holdings at artificially high prices and reap more than $1 million in illicit proceeds, the SEC alleged. 

Executive Moves

Cornerstone FS taps James Hickman as CEO

“I see great potential in the business from its proprietary technology to its regulatory permissions. It is already delivering an exceptional service to its SME customers and the scalable platform is ideally positioned to add further product capability.”

Retail FX

FCA warns of Lite Forex Pro as crackdown on clone scams continues

The UK Financial Conduct Authority has put out a press release that warns about a new ‘clone firm’ investment scam impersonating LiteForex‎, which rebranded last year as LiteFinance.

Digital Assets

Novogratz’s Galaxy Digital backs out of $1.2 billion deal to buy BitGo

Crypto merchant bank Galaxy Digital would not move forward with its bid to buy digital-asset custodian BitGo.

Executive Moves

OctaFX elevates Nikolas Charalampous to executive director role

OctaFX has promoted its head of dealing, Nikolas Charalampous, to the role of executive director, which saw the expansion of his day-to-day responsibilities and oversight.