Interactive Brokers’ TWS platform to choose native over simulated Stop and Stop Limit Orders

Maria Nikolova

For attached orders that offer both the Stop and Stop Limit order types, if traders choose an order type that is simulated, and the routing exchange offers the other natively, TWS will use the order type that is native.

Electronic trading firm Interactive Brokers Group, Inc. (NASDAQ:IBKR) continues to update its proprietary trading platform TWS, with the latest (beta) version of the platform showing clear preference of native stop and stop limit orders.

For attached orders that offer both the Stop and Stop Limit order types, if traders choose an order type that is simulated, and the routing exchange offers the other natively, TWS will use the order type that is native. For instance, if a trader creates a futures stop order, but the exchange offers native stop limit orders and Interactive Brokers simulate the stop, the system will choose to use the native stop limit order.

In cases where TWS will choose the native over the simulated order type, the platform will provide notice in both the label, e.g. Stop (prefer Native) and in the pop-up help.

Other improvements to the latest version of the TWS platform include the addition of TipRanks fundamental analysis for US stocks. TipRanks aims to bring the general public accurate and accountable financial advice, provided by analysts, hedge fund managers, financial bloggers, and corporate insiders. The technology uses Natural Language Processing (NLP) algorithms to aggregate and analyze financial data online. TipRanks data are available on TWS through new tabs in the Analyst Ratings (Summary) and Analyst Ratings (Details) windows.

The TWS platform has also seen improvement to the capabilities of natural language solution IBot. IBot is getting better in offering “Next Step” actions to traders. Traders are set to notice that the “Next Step” actions they are offered after a command become more and more useful to them. This is because IBot is now keeping track of the most popular “Next Step” actions, and as it learns it will offer these to traders at the top of the list to make their trading experience more efficient.

The bot is also learning the phrasing style of a particular trader. 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.

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