To load a Basket file:
Before the basket of orders is populated, a window opens up asking for you to specify how odd lot sizes should be handled. Keep in mind that applying rounding rules may result in an investment amount that is significantly higher than your original amount. You can instruct TWS to remember your decision.
Next, you also need to indicate if this will be a Program Index Arbitrage Trade or not.
The basket of trades will then load in the Order panel.
The Orders panel shows individual ticker rows with current market quotes and order criteria on each row, plus real-time summary information about the basket, including the number of orders, total shares, and the estimated total value of the orders in your basket.
When you send a basket order, each order in the basket is cleared individually. If your account does not meet margin requirements, it is possible that only a portion of the basket order will execute.
Above the order rows, you can verify the number of orders, total shares and real-time estimated value of the basket.
You can modify a basket order before you transmit it by adding or removing assets, changing quantities, and reversing the order action, etc.
Use the buttons along the bottom of the panel to make global changes to all orders, or modify parameters for specific orders directly in the order line.
Before transmitting, you can automatically update the order prices for the basket to coincide with the current ask, bid, midpoint, closing or last price.
Click Update Orders from the Edit menu to alter order attributes for the basket:
Note: when using BasketTrader as a trading page, use the TWS Trade menu to select Modify Multiple Orders.
In the Execute Basket panel, click Transmit to send the entire basket order.
The Execute panel lets you set allocation criteria to control the quantity submitted.
Note: Marketable orders may be immediately filled upon submission and therefore may not be able to be cancelled.
Note: Orders that have child orders associated with them, such as brackets, cannot have the order side flipped so the Reverse and Cancel and Reverse features will be disabled.
You can save the executed portion of any basket as a new, reversed basket file. On File menu select Save Executed Portion as Reverse Basket and enter a name for the new file.
Note: When using BasketTrader as a trading page, use the TWS Trade menu to select Modify Multiple Orders.
BasketTrader Executions are listed on the Summary panel at bottom of the screen which also displays across all areas of the order, including overall totals, and percent of basket filled by orders, shares and currency. It also includes tabs with data taken directly from the Trades and Account window.
Trades tab displays orders filled using BasketTrader. All order executions can also be viewed, using the Trades icon on the main Trading window.
Portfolio tab displays the same information as in the Account window with positions, average price and P&L information.