IB's new statement format

Discussion in 'Retail Brokers' started by pcvix, Aug 2, 2007.

Is IB's new statement format an improvement?

  1. Yes

    15 vote(s)
  2. No

    30 vote(s)
  1. pcvix


    Do you think IB's new statement format is an improvement over the existing one (after making a side-by-side comparison)?
  2. Catoosa


    For my printing needs, I much prefer the legacy statement. I will continue to use the legacy statement as long as it is available. The new statement format requires me to deselect all of the things I do not want to print on each days statement (what a pain and a waist of my time) before I print.
  3. HOBO


    I definitely prefer the OLD format of statements.

    The only improvement I see is that the CASH REPORT for all the currencies is now more compressed.

    Everything else is worse:

    NEW statements have added several PERFORMANCE and P/L related sections, which I have no use for. (Those numbers are not accurate and I must calculate P/L myself regardless).

    I am missing some important information that was available with the old format.

    Problems with POSITION section:

    “Security ID” and “Description” columns are now missing.
    Newly added and useless columns “Open Price” and “Unrealized P/L” can not be turned off and are unnecessary taking space. They are not even populated with data (which is actually good, as it is less confusing).

    “Close Price” column is not populated. Fortunately Close Price values are now shown (by mistake) in “Cost Basis” column.

    Problems with TRANSACTION section:

    Cannot turn off useless ”Mark-To-Market Summary” sub-section.

    “Symbol” column no longer shows option contract multipliers (the OLD statements had them in brackets).

    Newly added and useless columns “C. Price”, “FIFO P/L” and “MTM P/L” cannot be turned off.

    Very useful columns “Amnt In Base” and “Base Comm” are now missing. So now I have to convert all transactions to base currency manually.

    To make this fx conversion more difficult, the EXCHANGE RATE section now rounds fx values to 2 decimals. (e.g. the exchange rate for JPY is 0.01). To convert trading amounts into base currency , I now have to retrieve exchange rates from another source.

    Another problem is that the new reports cannot be saved as plain html files and viewed off-line. If you do that, you will not see the proper table format.
    Also the file size is bigger. Even when I download only a basic transaction report (without the new P/L sections).

    I hope IB will reconsider the date for termination of legacy reports.
    As a minimum, LEGACY reports should be provided till the end of 2007.
    Hopefully by that time they can hire somebody who can fix the NEW format.
  4. FLY7788


    I love LEGACY statement
  5. gkishot


    I hate the new format.
  6. I personally prefer the new format and anything IB can do to simplify statements
  7. Opra


    I just wonder why IB can't do a statement in PDF format.
  8. PDF would be so much more helpful than XML
  9. sporky


    what's so difficult about saving the webpage?
  10. rayl


    I 2nd the request for a PDF statement from the perspective of something that prints out "nicely" with decent pagination (and not entire pages w/ nothing but a small legend box on them).
    #10     Aug 5, 2007