IBExecution Services from an Order Line

As an IBExecution Services customer, you can instruct TWS where you want to clear your trades on a per order basis. Note that before you can use IBExecution Services, you must first apply, and then enter your give-up instructions through Account Management. You can use IBExecution Services from both the Order Ticket and on an order management line to define pre-trade or post-trade give ups.

IBExecution Services from an Order Management Line

  1. Click the Ask or Bid price on a market data line to create a BUY or SELL order, respectively.
  2. Use the Clearing dropdown to select to select your give up. Elect from one of three (3) types of clearing choice:
    clearinglist.gif

     

    • Interactive Brokers (IB). This was the previous default clearing destination.
    • Pre-trade Give Up. At the time of the trade, choose a third-party clearing give-up location from the instructions you defined through Account Management. If you defined multiple DTCID or CMTA settlement instructions via Account Management, you will see multiple pre-trade choices.
    • Post Trade Allocation (PTA). This selection puts your trades into the PTA pool after execution. Allocate post-trade using the Trading Access section of Account Management, which is directly accessible by selecting Post Trade Allocations on the View menu. The clearing choice you select will automatically be used as the default selection the next time you submit an order.
  3. Use the Open/Close indicator for US Options orders to specify whether your order is designed to close/reduce a position or open/increase a position. You can set a default for this indicator in the Order Defaults section of Global Configuration.
  4. The Clearing Account field is required for US futures and futures options orders that use PTA or Away clearing. You must specify the account number or other identity of the true beneficiary of the order. This information is reported to the exchange with the order. For Option and Stock orders, the clearing account number is in the settlement instruction and this field is optional.