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Trading Restrictions

The Trading Restrictions page lets master account users restrict their own accounts and their client/sub accounts from trading specific symbols. When you add a trading restrictions for a stock symbol, all derivatives of that stock will also be restricted, including options, futures, and so on. The Trading Restrictions page also displays all current symbols that the master account and client/sub accounts are restricted from trading.

Rules for Setting Trading Restrictions

The following rules apply to trading restrictions:

• Trading restrictions can be applied by a master account user to an entire account family (master account and all client/sub accounts), to the master account only or to specific client or sub accounts.
• Client and sub account users cannot set trading restrictions.
• When restrictions are applied to an entire account family, client and sub accounts inherit the restrictions.
• When restrictions are applied to an entire account family, any existing restrictions on specific client or sub accounts are overridden.
• Trading restrictions can be applied to specific client or sub accounts to override restrictions inherited from account family restrictions.
• Inherited restrictions cannot be deleted at the client/sub account level but can be overridden by the master account user.
• Overridden restrictions can be deleted but will be replaced by restrictions inherited from account family restrictions.
• Master account users can delete restrictions at the master account level.
• Restrictions set by IB operators can only be modified or deleted by the operator.

Who Can Access the Trading Restrictions Page?

You can access this page if you are a(n):

• Advisor Master User
• Proprietary Trading Group Master User
• Broker Master User
• Investment Manager Master User

To add a trading restriction

1. Click Trading Access in the left pane, then click Trading Restrictions.
   
   The Trading Restrictions page opens.

2. To set trading restrictions at the master account level (apply restrictions to the entire account family), in the Client/Sub Account Selection section, select the master Account ID, then click Change Account.
   
   To set trading restrictions at the client or sub account level, in the Client/Sub Account Selection section, select the client/sub Account ID, then click Change Account.
3. Enter the symbol you want to restrict in the Symbol field, then click Submit. The Add or Edit Restrictions page appears, and displays available stocks and bonds for the symbol you entered.
   
   The following figure shows an example of the Add or Edit Restrictions page. In this example, a master account user entered the symbol IBM on the Trading Restrictions page.

4. Select the check box next to each asset type you want to restrict. If you select the stock, all derivatives of that stock will also be restricted, including options and futures.
5. In the TIF list, select the Time in Force for the restriction. Select GTC (Good-Til-Canceled) or GTD (Good-Til-Date).

• If you select GTD (Good-Til-Date), you must also enter the beginning and ending dates for the restriction. Employees will be restricted from trading the selected symbol and assets for the dates you enter.

6. Click Submit to activate the trading restriction, which will be added to the list of existing restrictions displayed on the Trading Restrictions page.
7. On the Trading Restrictions page, click a symbol in the list of existing restrictions to display all issuer names associated with that symbol.
   
   The following figures shows a master account with trading restrictions.
   

Editing a Trading Restriction

To edit an existing trading restriction, enter the symbol in the Symbol field on the Trading Restrictions page and click Submit just as you would if adding a new restriction. Modify any of the restriction information on the Add or Edit Restrictions page, then click Submit. The modified restriction will appear on the list of existing restrictions displayed on the Trading Restrictions page.

Deleting a Trading Restriction

To remove existing restriction, you must delete it from the Trading Restrictions page. In the Existing Restrictions list, select the check box for the restriction you want to remove, then click Delete.

Remember the following rules:

• Inherited restrictions cannot be deleted at the client/sub account level but can be overridden by the master account user.
• Overridden restrictions can be deleted but will be replaced by inherited restrictions.
• Master account users can delete restrictions at the master account level.
• Restrictions set by IB operators can only be modified or deleted by the operator.

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