TWS Release Notes


These release notes document the major enhancements and bug fixes distributed in the current TWS version 945.

Charts: Adjust for Dividends

Our interactive charts now allow you to adjust prices for dividends by selecting Adjust for dividends from the Chart Parameters page. Note that when Adjust for Dividends is selected, the option to highlight the cash dividend (Cash dividend indicator) becomes inactive. This feature is implemented automatically when a second ticker is added to the chart for comparison.

Dark Pool Smart Routing Configuration

A new checkbox on the Smart Routing page in Global Configuration allows you to instruct IB's smart router NOT to include any dark pools in its algorithm. This feature affects stock and warrant orders only.

From within Global Configuration, in the left pane select Smart Routing. Check Do not route to dark pools. Customers who use the Cost Plus pricing structure will also have the ability to specify Smart option routing specifications.

Default Quantity Multipliers for BookTrader

A new Preset feature designed to help speed up order placement in BookTrader lets you specify a series of quantity multipliers that are then used to calculate a new series of available BookTrader order sizes. These order quantity selections are displayed in the Bid and Ask Size fields of the BookTrader ladder.

To specify multiples, use the Presets section of Global Configuration. Select an asset type and in the Size section specify BookTrader Quantity Multiples. To activate the multiples in BookTrader, use the Configure drop-down menu from within BookTrader and select Display size multiple in Price Ladder.

Activate BookTrader Multiples

In the BookTrader ladder, click the desired size to automatically create an order of that (size x lot size). For example, if you define multiplier of 2, 4 and 6 and have a default futures order size of 5, the Bid/Ask Size fields in BookTrader will display size buttons showing 10, 20 and 30 as available order sizes. For stocks, if the default order size is 300, the segregated Size Field displays 6, 12 and 18 (indicating order sizes of 600, 1200 and 1800). Please note that clicking the Bid Size or Ask Size (not using a Multiple button) will still create an order that uses the default order size.

Another feature to help speed up the order placement process highlights only the range of marketable bid/ask prices instead of coloring the entire bid/ask columns. To revert to the previous display (of coloring the entire column), on the BookTrader Settings page in Global Configuration uncheck Color marketable price areas.

Performance Profile for Complex Strategies

A new tool group, Performance Profile, can be invoked from the Margin/Performance button in the Advanced section of the Order Entry panel of the Strategy Builder. The group helps demonstrate the key performance characteristics of an option or complex option strategy, and comprises an enhanced Quote Details window that show the Return/Risk Profit Probability and the potential Max Return and Max Loss; a Performance Graph that shows the P&L (or any of the Greeks) as a function of the underlying price; and the Scenarios window, displays the effects of a change in underlying price on the P&L, the Greeks, and the volatility of a positions.

High-Precision Forex Quotes Across Data in All Tools

In Release 944 we introduced Forex quotes to 1/10 of a PIP, but this data was available only for Forex tickers. With 945, these high-precision quotes are now available everywhere Forex market data is used, including in charts, deep book, and Time and Sales.

To enable high-precision forex quotes, within Global Configuration select Display>Ticker Row and check Show high precision quotes for Forex.

Option Exercise: Notice that Dividend Estimate is Conservative

When forecasting whether or not early exercise should be considered on an option, in cases where the dividend estimate is conservative, the dividend amount will show an asterisk and the mouse-over tooltip will display the note: "The dividend amount of [div amount] is a conservative estimate of the dividend to be paid, based on a percentage of the projected dividend generated by a third party affiliate of [company name] and is not guaranteed to be accurate. The actual dividend is expected to be slightly higher, which would result in more strikes being exercised or assigned early."

Risk Navigator: Support for CFDs

CFDs are now supported in the IB Risk Navigator. As they do in TWS, CFD quotes reference the market data on the underlying stock, including the bid, ask, trade and volume data.

OptionTrader: New Greek Column Labels

In the OptionTrader's Option Chains panel, the Greek columns for Gamma, Vega and Theta are always calculated for the Put contract, and display at the far right (the Put side) of the Option Chains. We now label these field with the "P" prefix to indicate that they are based on the put contract. Additionally, we now provide generic Gamma, Vega and Theta columns that can be added to the regular set of columns and are based on the put or call, depending on the side they're displayed. To add a column, hold your mouse over an existing field name and click "Insert Column."

Mutual Fund Replicator: Investment Amount

The Mutual Fund Replicator, which finds ETFs that closely replicate the user-defined mutual fund, now includes a field to enter the Investment Amount. The resulting number of shares and corresponding value of both the Mutual Fund and correlated ETFs are approximated based on the investment amount entered.

Redesigned Option Analytics Window

The Option Analytics window design has been updated to reflect recent changes to the Option Chains layout and the Mosaic workspace. To open Option Analytics from within Mosaic, use the New Window drop down and select Option Analytics from the Technical Analytics section of the list. The window is color-linked to the Mosaic and will reflect the current, active contract. Select an option from the display option chains to view the Call and Put P&L curve. Modify the displayed Strikes, Expiries, Exchanges and/or Multiplier using the selector lists along the bottom of the window.