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Screenshot of a breaking news alert e-mail from Q2 2017
Provider of online trading services Interactive Brokers Group, Inc. (NASDAQ:IBKR) continues to add capabilities to its Trader Workstation (TWS) platform, with the latest enhancement concerning the broker’s lineup of advanced trading algorithms.
A new IBalgo, “Adaptive”, has been added to Interactive Brokers’ growing suite of algos. This algo can be used with a limit or market order and aims to ensure that market and aggressive limit orders trade between the spread.
Traders can determine how urgently they want an order to fill using the “priority/urgency” selector in the algo window.
To use an Adaptive IBalgo in Mosaic, one has to create a market or a limit order and to expand the “advanced” panel. From the Destination field, one has to select IBALGO and select “Adaptive” in the Algo Parameters list.
Interactive Brokers has recently been enhancing its suite of algos. The latest TWS beta build also offers a new parameter for IBALGO VWAP. In TWS Beta 955, the best-efforts VWAP algo includes a checkbox to “Speed up when market approaches limit price.”
You can find out more about IB TWS by clicking here.