IB Sell in one account, buy in another as a combo order

Discussion in 'Retail Brokers' started by ET180, May 13, 2019.

  1. ET180


    Is there a way to buy shares in one account and sell the same number of shares in another account, both linked under an adviser account (when I log in, I can select either account) as a combo order?
  2. tommcginnis


    Two things stand in the way:
    1) "...for the benefit of,_______"
    2) IB is a DMA

    The first item requires any transaction to be clean and differentiable, so the taxing authorities (anywhere on the globe) can reach in and grab their take. The second item means that any "trade" goes to market, with IB unable to stand in anybody's way, or "reserve this-or-that 100 shares over here for....."

    It should be an easy thing to construct a basket order (which is *not* a combo) of two different, unrelated accounts, which *happens* to trade the same contract in different directions -- just two trades which happened to be similar in the time of *submission* and in the underlying. This would work whether the accounts were the same "for the benefit of..." or not.

    An IB "combo" though would be out: that's treated by IB as a single trade/contract line, and would violate exchange rules.

    One last thought: a 'transfer' (NOT a trade) which would put you back under the 'for the benefit of..." magnifying glass -- doable if they're the same, not doable if they're for different parties.
    Last edited: May 13, 2019
    ET180 likes this.
  3. ET180


    Thanks Tom, the basket order should handle it fine. I basically wanted to just queue the orders up and then execute them at the same time so that they basically fill at the market price at close to the same time.

    tommcginnis likes this.