Interactive Brokers TWS platform adds swap support for European Mutual Funds
Electronic trading major Interactive Brokers continues to enhance and expand the functionalities of its TWS platform. TWS Beta Build 10.24 adds swap support for European Mutual Funds.
The Exchange Fund feature allows clients to swap all or part of an eligible (long) mutual fund position into another fund from the same fund family. Eligible funds include European funds traded on FUNDSETL, and ALLFUNDS exchanges. Funds must trade in the same currency.
Swapping funds using the Exchange action may result in lower commissions, fewer tax consequences (for funds in the same family), and also allows clients to complete this action with a single transaction instead of selling, waiting for the trade to settle, and then buying another fund.
To use, select an eligible Mutual Fund position and use the right-click menu to choose Exchange Fund. In the order row, use the “Exchange to” cell to select a new fund. Review and submit the order.
This feature is supported in IBKR Mobile and TWS. It will be released soon in Client Portal. Clients using the Exchange Fund feature in TWS should use the Classic layout as mutual funds are not currently supported in Mosaic.
Interactive Brokers regularly updates its TWS platform. For instance, the 3D Volatility Viewer, which allows you to view implied volatility for an instrument, has been integrated into TWS so you can view 3D implied volatility directly within TWS, rather than within a separate tab of your browser.
The integrated 3D Volatility Viewer is available from Mosaic by selecting New Window>Option Analysis>Interactive Analytics>3D Volatility Surface. You can also access from within the Implied Volatility Viewer by clicking “3D” in the top right corner of the Implied Volatility tool.