Interactive Brokers’ TWS platform facilitates search for tools

Maria Nikolova

The latest version of the platform introduces an easier way to find and open any tool from the “New Window” drop-down tools list.

Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) continues to add useful functionalities to its proprietary TWS trading platform, with the latest (beta) version of the platform making it easier for traders to search for and open tools from the “New Window” drop-down list.

When traders click the New Window icon in Mosaic, their cursor opens in the new Search field. Simply enter a tool or feature name, like “options” or “Advanced Market Scanner”. As traders start to type, the list of tools updates to fit their search, based on both the title and the feature itself. For example, typing “options” will not only return “Option Chains” and “OptionTrader,” but also “Implied Volatility Viewer” and more, all of which are option-centric tools. When traders see the tool they would like to use, they simply have to click to open.

For convenience, tools that a trader has recently opened appear at the top of the list in the “For You” section.

The improvements in the latest (beta) TWS version also include ones that are aimed at Advisors managing a large number of accounts. The broker has streamlined the process for handling allocation orders. This new process will result in changes in both TWS and the API (when used with TWS version 974 or greater).

In the TWS platform, in the Trade Log, Advisors will (by default) see a summary of the allocated orders. They can expand the summary to see partial fills and allocations for that order.

When exporting FA allocation orders, only trades for the master account will be exported. Allocation details can be exported by selecting the individual account in the Trade Log first.

The broker notes that commissions for allocation transfers can also be viewed when the individual account is selected in the Trade Log window.

When the Advisor selects “All” in the Trades window, that selection will show “All allocation order trades.” Let’s pay attention to the fact that models cannot be selected from this list. Selecting a group will show “Group-specific allocation order trades.”

Advisors who trading using investment Models, selecting a group in the Portfolio window will show totals across accounts in the group, or totals for the “Independent” portion of accounts in the group. The Model breakdown is hidden for simplification.

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