IBKR Order Management System (IBKR OMS) - FAQs

If you are interested in the IBKR OMS, please contact an IBKR Sales Representative for more information and assistance with the onboarding process.

There is no installation fee, flat fee, or term commitment to IBKR OMS users. Only a monthly commission minimum of $2,500 is required. Trades originating from the IBKR OMS are charged a commission. This charge is then applied against the required monthly minimum amount.

Accounts are provided with access to 25 IBKR OMS terminals. Additional terminals and executing broker connections are available. Each additional connection will result in an increase of $100 to the monthly minimum.

Yes, you can route orders to your existing broker. The IBKR OMS is a broker-neutral platform that allows you to execute orders at multiple brokers. Additional broker destinations can be added upon request.

We offer three primary forms of reporting for OMS clients:

• Client Reporting - Our statements and reports include real-time trade confirmations, margin details, transaction cost analysis, sophisticated portfolio analysis, tax optimization and a number of other supplemental reports.
• Compliance Reporting - IBKR can generate a number of compliance reports for review by the client's compliance departments. These reports are generally based on the order and trade activity of accounts associated with the IBKR client.
• Regulatory Reporting - IBKR can generate certain regulatory reports on behalf of clients upon request. For example, FINRA member clients can request that IBKR generate and submit OATS reports to FINRA on their behalf.

The IBKR OMS supports PTA, which is available to clients who clear away from IBKR. Clients who execute with IBKR and give trades up to non-IBKR clearing brokers (to a mix of different clearing firms or multiple accounts at one away clearing firm) can use the following formats to communicate post-trade-allocation information to IBKR:

• File-Based PTA: Import a comma-separated values (.csv) file with post-trade allocation instructions. IBKR will process the file and provide a status for each allocation instruction.
• Web-Based PTA - Our intuitive web-based Post Trade Allocation tool lets you allocate per above.

We offer third-party integration feeds with administrators, portfolio and order management platforms, compliance, CRMs, custodians etc.

Yes, you can stage orders from your FIX/CTCI connection to the Mosaic Blotter. Traders can accept/reject new staged tickets, ticket modifications and cancellations. Traders can then break tickets into child orders to route to IB SmartRouting^SM, third-party brokers, algo destinations, direct to specific market centers, or other desks in their firm.

The Mosaic Blotter is a trading tool within TWS that allows you to manage parent and child orders submitted manually or electronically via FIX. It is an essential part of our suite of OMS tools. The Blotter is easily accessible from within TWS.

We support the following routing destinations:

• IB SmartRouting^SM - Send electronic orders to the IB SmartRouting engine, which searches for the best price across different market centers trading the same product and seeks to execute your order at the best possible price.
• Broker-Neutral - Route to third-party executing brokers that have been added to the IBKR OMS as routing destinations. Select from a number of executing brokers available for routing regular and algorithmic orders on behalf of mutual clients who use the IBKR OMS, and have IBKR add brokers to the routing list based on your preference.
• Desk Route – Desk Route supports custom-designed routing between multiple desks within your firm. For example, set up a Sales desk to receive and enter client tickets and Trading desks to receive and manage orders. This type of configuration allows you to implement the most efficient task-oriented workflow.
• Directed - Send electronic orders to market centers supported by IBKR’s order routing system for direct access. Directed orders are only sent to the user-specified market center and are not visible to other market centers that may also trade the same product.
• Done Away - Record orders that have been manually routed (via phone, e-mail, instant message, etc.) to third-party brokers in the IBKR OMS. Record resulting trades in association with these orders.

Because the IBKR OMS is seamlessly integrated with TWS, we offer over 60 order types and algos. The Mosaic Blotter is seamlessly integrated with advanced TWS trading tools including the Accumulate/Distribute algo, which helps minimize market impact for large orders; the ScaleTrader algo which helps insulate large-sized orders from increasingly deteriorating prices; the IBKR guaranteed VWAP algo and more. Use the right-click menu from a ticket to access a tool.

Yes, the IBKR OMS supports custom-designed routing between multiple desks within your firm. For example, set up a Sales desk to receive and enter client tickets, and Trading desks to receive and manage orders. This type of configuration allows you to implement the most efficient task-oriented workflow.

For order management purposes, the Mosaic Blotter allows you to create Away destinations manually, and manually report trades executed away from IBKR. This data will be reflected in the order status fields and the trade reports.

Yes, we support Away Position Import. This means the IBKR OMS can import client positions and cash not in custody with IBKR (commonly referred to as a Start of Day position import) at start of day via a file received from a Prime Broker or Fund Administrator. The Away positions are then tracked intraday by the IBKR OMS and can be viewed together with IBKR positions.

Note: Away position import requires approval by IBKR Management.

Yes, the IBKR OMS supports custom-designed routing between multiple desks and traders within your firm. For example, set up a Sales desk to receive and enter client tickets, and a work group of traders to receive and manage orders. This type of configuration allows you to implement the most efficient task-oriented workflow.

Yes, we provide FIX drop copies for front, middle, back office and third-party applications. Intra-day FIX drop copy sessions send execution information (and order information in some cases, see below) in real time via FIX.

We offer the following:

• Trade Drop Copy - Electronically transmits trades executed at IBKR to third-party order management, risk management, compliance and administration systems. IBKR can configure necessary FIX drop copy interfaces with the third-party of your choice. This service is also referred to as Real-Time Trade Reporting or RTTR.
• Order Drop Copy - Electronically transmits submitted orders and executed trades at your IBKR account to third-party order management.
• Trade Capture - Send trades executed outside of IBKR to the IBKR OMS via FIX to be captured in the IBKR system. This feature is also referred to as Inbound Drop Copy.

IBKR Prime clients can report away trades using the IBKR Blotter. Those trades will update your TWS positions in real time and be automatically uploaded to the IBKR clearing system, eliminating the need to post a trade file via FTP.