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Placing Orders via API

 

Hi,

I have been placing orders via API for a while with no problems. I have been doing it on a particular single account number though. I was wondering if one could place an order, say buy 300 shares of msft and have it be distributed to, say, 3 different accounts, so each account gets 100 shares, or done via a percentage that you can specify; 20%/40%/40% etc. If this ability exists, does it work properly?


Also, on the IB side, do they charge you on 300 shares and divide that cost among the 3 accounts? Or is each account charged the same commission as if you placed 3 orders for each account?


Thanks!

W
 

Hi,

Yes it would require a Financial Advisor (FA) account master username. Take a look at the section of the TWS User's Guide dealing with placing orders from FA accounts- It's possible to submit orders by allocation group or method. The same functionality would be accessible from the API.?

In general the commissions with FA group allocations would be the same as placing separate orders to the individual accounts, so there would be no saving on commissions.?

Josh
 

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Thanks for the response. I just read that section. So it¡¯s just a convenience this feature provides. I was hoping they would price the commission on the ¡°combined group¡± number of shares to get by the minimum commission they charge.
So not worth implementing this via API.?
I¡¯m trying to find ways of minimizing expense of trading. My next attempt is to change market orders to limit orders and wait to get a better price. I just received an email from IB about a new features they provide; they now have an adaptive Algo option when placing orders where the negotiating for a better price is done at their end. Wonder if this feature is available via API?


Thanks again.
W

On May 24, 2016, at 6:45 PM, jb201448@... [TWSAPI] <TWSAPI@...> wrote:

Hi,


Yes it would require a Financial Advisor (FA) account master username. Take a look at the section of the TWS User's Guide dealing with placing orders from FA accounts- It's possible to submit orders by allocation group or method. The same functionality would be accessible from the API.?

In general the commissions with FA group allocations would be the same as placing separate orders to the individual accounts, so there would be no saving on commissions.?

Josh
 

Walter,

Yes I believe the Adaptive algo is available:

order.AlgoStrategy("Adaptive");
order.algoParams(new ArrayList<TagValue>());
order.algoParams().add(new TagValue("adaptivePriority","Normal"));

Josh

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