Before you can instantaneously transmit an order with a single click in BookTrader, first you need to arm the tool:
- Check the Armed box in the top-left of the BookTrader window
- Review and agree to the warning message that appears in the pop-up window by clicking Yes
- Click the Bid Size (to Buy) or Ask Size (to Sell) to create and instantaneously transmit an order at a certain price level in the price ladder
- The pending order will appear in the Orders tab.
You can disable instantaneous transmission by un-checking the box next to Armed in the top-left of the BookTrader window.
Note
- MIFID II rules require that Interactive Brokers in Europe and the UK provide its retail clients with a reasonable estimate of the costs and charges related to products and services offered. Since it is mandatory, IBKR has implemented it in all IBKR trading platforms to show the option for the clients to see Ex-ante Costs and Charges disclosure. Clients can see this prompt as a hyperlink named “Cost Impact” at the time of placing orders and will not be able to transmit an order instantaneously.
Additional Information
- BookTrader in the TWS Users' Guide.