Interactive Brokers makes it easier to use Adaptive Algo

Maria Nikolova

The broker has made it easier to use the Adaptive IB Algo in Mosaic’s Order Entry.

When it comes to updates to TWS, the proprietary trading platform developed by Interactive Brokers Group, Inc. (NASDAQ:IBKR), we have gotten used to seeing enhancements to the functionalities of IBot, the Artificial Intelligence solution that knows the answer to a great variety of questions a trader might have. But the platform offers many other interesting and useful tools and its latest beta version will deliver an improvement related to one such tool, the Adaptive Algo.

TWS now simplifies the use of the Adaptive IB Algo in Mosaic’s Order Entry, so that traders can easily achieve the fastest fill at the best all-in price. As the name of this algo suggests, it adjusts to match market conditions.

In order to use the Adaptive IB Algo in Mosaic’s Order Entry, one simply has to click on the Adaptive button – this will activate the Adaptive mode. Traders then may choose to set a specific limit price, which results in an Adaptive Limit order, or leave the “MARKET” price, which leads to an Adaptive Market order.

An Adaptive Market order dynamically selects and varies the price in order to fill at the best all-in price. An Adaptive Limit order uses the limit price as a price cap. The Adaptive Limit will only fill at the specified limit price or better.

The Adaptive Algo order type draws on IB’s Smartrouting capabilities along with user-defined priority settings in order to deliver further cost efficiency at the point of execution.

This algo can be used with a limit or market order and aims to ensure that market and aggressive limit orders trade between the spread. Traders can define how urgently they want an order to fill by using the “priority/urgency” selector in the algo window. This algo order type may be particularly helpful for an investor when the spread is wide.

There are other settings too. The “critical” setting scans for a brief period of time, whereas the “patient” scan works more slowly and has a higher chance of achieving a better overall fill for one’s order.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<