Interactive Brokers makes it easier to access IBot in mobile trading platform
IBot has been added to more screens, including the Quote Details and Orders screens.
Electronic trading expert Interactive Brokers Group, Inc. (NASDAQ:IBKR) has been actively improving the capabilities of its natural text interface to trading IBot. The latest enhancements concern the availability of the solution in Interactive Brokers’ mobile application for iOS devices.
In the latest version (8.47) of the application, the broker has made it easier for traders to access IBot by adding it to more screens, including the Quote Details and Orders screens. To make use of the solution, traders have to simply tap to open IBot and enter any trade-related command in plain English.
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.
The bot has markedly evolved since its launch. For instance, in August last year, IBot got the ability to learn the phrasing style of a particular trader. This skill is particularly 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.
More recent enhancements include IBot’s assistance in creating custom algo orders. IBot can guide traders through the process of creating a powerful, custom Accumulate/Distribute algo thanks to a series of simple questions. Accumulate/Distribute was designed to help traders buy or sell large quantities over time, minimizing market impact by submitting orders in smaller components, randomizing size and time. To create an Accumulate/Distribute algo using IBot, traders should simply enter an Accumulate/Distribute-relevant command, such as “accumulate 2300 shares of IBKR” or “distribute 2300 shares of IBKR” or “buy 3000 shares of IBKR using accu/dist algo” etc. IBot will present a series of simple parameters for the trader to complete.
