Interactive Brokers Unveils New Feature to Help Clients Achieve Even Better Price Execution on US Options Trades
January 31 2023 - 10:00AM
Business Wire
Interactive Brokers (Nasdaq: IBKR), an automated global
electronic broker, today announced the launch of its new IBUSOPT
order destination. With the dramatic increase in retail options
trading, Interactive Brokers has launched this new order
destination to help its retail and institutional clients achieve
better price execution on their options trades.
IBUSOPT, a new order destination for US equity and index
options, is designed to offer clients the opportunity to interact
with IBKR SmartRoutedTM order flow and have their orders filled in
between the National Best Bid/Offer (NBBO). The IBUSOPT destination
helps traders execute options trades more efficiently and
effectively and helps achieve better executions by providing
traders with more control over their trades by supporting different
order types.
IBUSOPT orders will wait for an offsetting order from another IB
customer and will not be shown to the market.
The IBUSOPT-Pegged-to-Midpoint order type allows clients to peg
their order to the midpoint of the bid-ask spread, meaning that the
order will be executed at the midpoint of the NBBO, (the highest
bid and the lowest ask). This order type helps traders get better
prices by not having to pay the bid/ask spread.
The IBUSOPT-Pegged-to-Best order allows clients to peg their
order and compete by one tick with the best bid or ask price
available in the market. Traders who use this order type want to
ensure that their order is executed at the most favorable prices,
regardless of the market conditions.
IBUSOPT is available to all Interactive Brokers clients,
including individual investors, advanced traders, Financial
Advisors, Hedge Funds, and other institutional clients. The
destination is available on the advanced Trader Workstation trading
platform, offering a seamless and efficient trading experience.
"We are excited to be launching IBUSOPT, which is the latest
addition to our cutting-edge trading technology," said Thomas
Peterffy, Founder and Chairman of Interactive Brokers. "With the
dramatic increase in retail options trading, we believe that this
new order destination will help our clients achieve better
execution prices on their US options trades, and we are confident
that it will be a valuable tool for both retail traders and
institutional investors. We are looking to expand this order type
to encompass regions of strike prices with a one cancels all
feature, in the near future."
For more information on IBUSOPT, visit
https://www.interactivebrokers.com/en/trading/orders/ibusopt-destination.php
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade
execution and custody of securities, commodities and foreign
exchange around the clock on over 150 markets in numerous countries
and currencies, from a single unified platform to clients
worldwide. We service individual investors, hedge funds,
proprietary trading groups, financial advisors and introducing
brokers. Our four decades of focus on technology and automation has
enabled us to equip our clients with a uniquely sophisticated
platform to manage their investment portfolios. We strive to
provide our clients with advantageous execution prices and trading,
risk and portfolio management tools, research facilities and
investment products, all at low or no cost, positioning them to
achieve superior returns on investments. For the fifth consecutive
year, Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars
in its March 25, 2022, Best Online Brokers Review.
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version on businesswire.com: https://www.businesswire.com/news/home/20230130005664/en/
Contacts for Interactive Brokers Group, Inc. Media: Katherine
Ewert, media@ibkr.com
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