As an IBExecution Services customer, you can tell 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 provide us with your give-up instructions which you specify in 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 on the Order Ticket
Right-click on a ticker and select Trade, then select Order Ticket.
Set up your order on the Basic tab, then click the Misc. tab to use IBExecution Services.
Use the Allocation drop-down to select your give up. Choose from your list of clearing choices including:
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 in the clearing field, which 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 is available upon request, and 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.
The clearing choice you select will automatically be used as the default selection the next time you submit an order.
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.
The Clearing Account field is required for US futures and futures options orders that use PTA or Awayclearing. 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. IB Execution clients with multiple clearing destinations can configure a default give-up. For Option and Stock orders, the clearing account number is in the settlement instruction and this field is optional.
