Trader Workstation Users’ Guide i Trader Workstation Users Guide March 11, 2010 Current with TWS Build 901 © 2001 - 2010 Interactive Brokers LLC. All rights reserved. Sun, Sun Microsystems, the Sun Logo and Java are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. Excel, Windows and Visual Basic (VB) are trademarks or registered trademarks of the Microsoft Corporation in the United States and/or in other countries. AQS is a registered trademark of Automated Equity Finance Markets, Inc, a wholly owned subsidiary of Quadriserv, Inc. All rights reserved. Patents pending. Any symbols displayed within these pages are for illustrative purposes only, and are not intended to portray any recommendation. Trader Workstation Users’ Guide ii Contents 1 Get Started................................................................................... 1 Log In to TWS ...................................................................................................2 Add Market Data ...............................................................................................4 Add Market Data using Class or Symbol ................................................................6 Use Quick Data .................................................................................................7 Import Tickers from a File...................................................................................8 Create an Order .............................................................................................. 10 Modify an Order .............................................................................................. 11 Transmit an Order ........................................................................................... 13 Cancel an Order .............................................................................................. 15 Use the Order Wizard ....................................................................................... 17 Deactivate an Order ......................................................................................... 19 Trade Bonds and Treasuries .............................................................................. 20 Trade Mutual Funds ......................................................................................... 23 Trade FX from the Trading Window .................................................................... 25 2 Trading Tools............................................................................. 27 BasketTrader ................................................................................................... 28 Send a Basket Order ........................................................................................ 29 Create a Basket File in TWS .............................................................................. 31 Manually Create a Basket File............................................................................ 33 Sample Excel Basket File .................................................................................. 37 IndexTrader.................................................................................................... 38 Stock Borrow/Loan............................................................................................ 39 About Stock Borrow/Loan ................................................................................. 40 Access Stock Borrow/Loan ................................................................................ 42 Borrow/Loan Fields .......................................................................................... 43 Borrow/Loan Transactions................................................................................. 46 Returns/Recalls/Rerates ................................................................................... 50 Transactions and Positions ................................................................................ 53 TWS Blotter ..................................................................................................... 55 Using the TWS Blotter ...................................................................................... 57 Trader Workstation Users’ Guide 1 Contents Understand the Blotter Interface........................................................................ 58 Manual Ticket Entry ......................................................................................... 60 Receive Electronic Tickets ................................................................................. 63 Use Windows Grouping to Link Blotter ................................................................ 65 Using the Tickets Panel..................................................................................... 67 Using The Orders Panel .................................................................................... 70 Reading the Trades Panel.................................................................................. 75 Display Orders by Filter Criteria ......................................................................... 76 Order Sharing Modes........................................................................................ 78 Configure the Blotter Panels .............................................................................. 80 BookTrader ...................................................................................................... 84 Open BookTrader............................................................................................. 85 Trade with BookTrader ..................................................................................... 88 BookTrader Order Handling ............................................................................... 90 BookTrader Hotkeys......................................................................................... 92 BookTrader Buttons ......................................................................................... 96 BookTrader Colors ........................................................................................... 98 ChartTrader ................................................................................................... 101 Open ChartTrader .......................................................................................... 102 Create and Transmit Orders ............................................................................ 103 ComboTrader ................................................................................................. 106 About Combination Orders .............................................................................. 107 Create a Combination Order ............................................................................ 110 Using the ComboTrader .................................................................................. 112 Transmit a Combination Order......................................................................... 117 Notes on Combination Orders .......................................................................... 118 DepthTrader .................................................................................................. 119 Aggregated Market Depth Window ................................................................... 120 Market Depth Buttons Panel ............................................................................ 122 ............................................................................................. Create an Order123 FXTrader ....................................................................................................... 125 The FXTrader Window .................................................................................... 126 The FXTrader Trading Cell............................................................................... 127 Using the FXTrader ........................................................................................ 128 The Integrated Stock Window (ISW).................................................................. 129 Quote Panel .................................................................................................. 131 Book Data Panel ............................................................................................ 132 Trader Workstation Users’ Guide 2 Contents Order Entry Panel (OEP) ................................................................................. 134 Auto Orders .................................................................................................. 136 ISW Order Entry Sub Panels............................................................................ 138 ISW Buttons Panel ......................................................................................... 140 OptionTrader.................................................................................................. 141 Using the OptionTrader................................................................................... 142 Loading Option Chains.................................................................................... 144 OptionTrader Statistics ................................................................................... 145 Create/Edit Toolbar Buttons ............................................................................ 148 Options Penny Pricing...................................................................................... 149 Penny Pricing for US Options ..........................................................................