IB autoallocation feature request

Discussion in 'Retail Brokers' started by GeorgeSoros, May 23, 2002.

  1. I start a new thread on this specific topic so that it won't be hidden in the classical thread on IB new features request.

    One of the feature IB is missing is about managing multiple accounts at the same time : I call it auto-allocation and this is a feature I have already seen with my Forex brokers.

    The philosophy is that you have multiple accounts to manage but you want to manage only one and that the others replicate the trade but not with the same size.

    It would request the following :
    - new autoallocation menu where you will find all the linked account (your accounts + the accounts where you have power of attorney) : you will check the accounts you want to manage and decide about the autoallocation ratio from 1% to infinity.
    Say for example you select 50% : each time you buy 500 stocks for your account an order for 250 stocks on the same price will be done on the other account. Say you select 300% each time you buy 5 contracts , 15 contracts will be bought on the other account.

    - a button at the top of TWS that will switch from autoallocation mode to normal mode (of course a hotkey would exist to do it faster).


    How would it work in real world ?
    You click on autoallocation button. maybe there would be a color change somewhere so that you know you are in this mode. Now each time you click on whatever the order is, below your order line, you see 1 , 2 or x rows with account numbers (the color would be different too to separate from your order) with the proper quantity as fixed by the autoallocation ratio for each account. For a limit price you would be able to change the limit for the other account in a classical way.

    The only difference would be that there would be only ONE transmit button that would transmit your order and the linked orders...

    On pending orders you would see all the orders on the different accounts AND on execution windows too but those orders that are not on your account would appear with a different background. Account window and P&L would only reflect the P&L for your account and not the one for others...

    Of course all of that is a dream right now but it sounds possible to code it...I would like to have your own comments on it...

    George
     
  2. alanm

    alanm

    In case you hadn't thought of it, I'll point out that this is something that can be done via the API.