Interactive Brokers introduces auto-synchronized Watchlist Library to TWS platform

Maria Nikolova

The new Watchlist Library provides synchronization of traders’ Watchlists across all platforms.

Online trading major Interactive Brokers Group, Inc. (IEX:IBKR) continues to expand the functionalities of its TWS platform. The latest (beta) version of the solution offers traders an auto-synchronized Watchlist Library.

The new Watchlist Library provides effortless synchronization of traders’ Watchlists across all platforms, ensuring that they get the latest version regardless of whether they are logging into mobile, desktop, or Client Portal. There is no need to decide which lists to import or sync, as all of a trader’s lists are always available no matter where a trader is.

In addition, the brokerage has made it easier for traders to get started by offering them a library of Watchlists to jump-start their trading. In cases where traders have added a product on desktop that is not yet supported on mobile or Client Portal, it’s preserved and displayed correctly in all versions.

The list of the newest additions to TWS includes a MidPrice order type for smart-routed stock orders. MidPrice is designed to split the difference between the bid and ask prices, and fill at the current midpoint of the NBBO – or better. To create this order, users of the TWS platform have to choose MidPrice from the order entry Order Type field. Set an optional Price Cap to define the highest (for a buy) or lowest (for a sell) acceptable price for the order.

To achieve the midpoint price or better, the MidPrice order is routed to the exchange with the highest probability of filling as a Pegged-to-Midpoint order, or in the case of IEX as a Discretionary Peg (D-Peg) order. If no such exchange is available, the MidPrice order is routed as either a native or simulated Relative order.

Recent improvements to the TWS platform also include an enhanced Quote Details window.

The enhanced Quote Details window has:

  • More data, including Comparison to Historical, Comparison to Peers and Scanner Results;
  • Provides a more vibrant, graphical display that’s easy to read;
  • Is context-sensitive to show instrument-relevant data. It will display different information for ETFs than it will for stocks or for bonds.
  • On top of that, the enhanced Quote Details summarize key data from different TWS tools, then provide a link from that data to launch the relevant tool.

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