Interactive Brokers TWS platform enhances Advisor Allocation Group functionality
Electronic trading major Interactive Brokers continues to improve the capabilities of its Trader Workstation (TWS) platform.
The latest (beta) build of the platform updates Advisor Allocation Group functionality. The most recent updates to Advisor Allocation Group include:
- Removal of Method Field in Orders: The allocation “Method” drop-down field is no longer available in the order entry area. Previously, when you selected a Group you could choose to modify the allocation Method for that group. Now, you can see the allocation method in the order line, but you must modify the method in the Advisor Setup area.
- Changes to “Equal Quantity” Method: The Equal Quantity method has been changed to “Equal.” The functionality of this method has also been changed. Instead of allocating an equal number of units among all accounts in the selected group, the Equal method attempts to make the positions equal. In some cases this may result in Equal Quantity.
- Allocation Group Default Quantity: You can now define a Default Size for Group Allocations using the Default Size field that displays on the Create Group box when you choose a method. If you set a default size, it will be applied to an order when you select that Group. If no Default Size is set, the order will use the Preset default size.
As FX News Group has reported, the latest build of the solution also makes changes to US stock “size” quotes display. Previously, US stock size quotes were displayed in round lots (of 100 shares). Effective with TWS release 985 and above, the bid, ask, and last size quotes are displayed in shares instead of lots.
API users have the option to configure the TWS API to work in compatibility mode for older programs, but the broker recommends migrating to “quotes in shares” at traders’ earliest convenience. To use compatibility mode, from the Global Configuration > API > Settings page, check “Bypass US Stocks market data in shares warning for API orders.”
Interactive Brokers regularly updates its trading platforms. The preceding build of the TWS platform adds Hot News headlines. They provide updates on the most active symbols and tell traders why these companies are on the move. When relevant, traders will see Hot News headlines in the Quote Details and Advanced Quote Details windows, identified with the red flag icon.
Add Hot News as a feed using the “+” in the News panel. You can remove these headlines from the quote details windows from the Information Tools > Quote Details section of Global Configuration.