Interactive Brokers’ TWS platform adds real-time tick-by-tick data in Time & Sales

Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has recently been enhancing the data precision features of its TWS platform.

The latest production version of the platform (build 969) enables the Time & Sales windows to use real-time last tick data for all products that support this feature, which includes stocks and futures worldwide. Let’s note that all other products will continue to show real-time Time & Sales derived from the aggregated real-time volume. If traders prefer to use real-time aggregated/averaging of trades (approximately every 3-4 seconds) instead of tick-by-tick data for all products, they should go to Global Configuration > Information Tools > Time & Sales > Settings, and check “Always use real-time volume to approximate Time and Sales data.”

The IB API beta in conjunction with TWS version 969+ also supports this feature through the new reqTickbyTickData function which provides real-time data for up to five (5) US securities.

These enhancements have been taken to the next level in the latest beta version of the platform. This version will see the Multi-Contract mode in Time & Sales to also support real-time last tick data for certain products.

Other improvements in the newest version of the TWS platform include a 3D Volatility Surface webtool.

Traders can now view Implied Volatility in 3D using the 3D Volatility Surface webtool accessible from within the Implied Volatility Viewer. All they have to do is click the “3D” button to study the model volatility surface of contracts in 3D.

As a result, the platform displays the model surface together with individual option IV points. And traders can also compare the current surface with any historical value by plotting them together. The view can be rotated and zoomed. If one expands the “Extra plot controls”, contour and value lines will be shown. Scaling can be manipulated using sliders.

Let’s note that the the list of improvements in the latest build of the TWS platform also includes support for MiFIR reporting.

Users can define default TWS and API decision-maker and execution trader values in Global Configuration for MiFIR reporting. To access these settings, in TWS Global Configuration they should go to Orders and then select MiFIR. Users can define default values including: TWS Defaults (Decision Maker is the owner of the account, Decision Maker is myself, etc); API Defaults (Decision Maker, Decision Algo, etc); Execution Defaults (Execution Trader, Execution Algo, etc).