Portal Archived Release Notes

Available in Advisor Portal, Goal Tracker is a planning tool that projects the hypothetical performance of your client's portfolio and monitors how likely they are to achieve their financial goals.

Now support CRM Workflows, which allow Advisors to assign tasks to a specific contact and then monitor the workflow.

Downloadable questionnaire and risk score history report available in Advisor Portal.

Now advisor, broker and STL accounts can access a Queries tab from the Dashboard to run reports based on performance, symbol, and volume.

For more information, see the the Advisor Portal Documentation and CRM Client Data Queries Topic.

Updated the section from Source of Income to Source of Wealth.

Updated Securities Claim Recovery Service to Securities Class Action Recovery Service.

Now support full service brokers in Responsive Account Management.

Now brokers can enable or disable client approval configuration.

Now support brokers approving or decling applications in Responsive Account Management.

Updated Trading Permissions to now include Trading Experience and Permissions.

Advisor Masters can affirm their standing as a professional registered advisor or a friends and family advisor. In addition, Advisors can now design a client risk profile tool in the Advisor Portal and send the questionnaire to clients via the support center.

For more information, see the the Advisor Portal Documentation and Configuration Account Settings Topic

All Advisor Masters will now be log in to an integrated Client Relationship Management Platoform experience to manage the Full Client Lifecycle.

For more information, see the the Advisor Portal Documentation and Advisors Getting Started Guide.

The user interface has been visually updated to be more user friendly.

For more information about transferring funds in account management, refer to the Users' Guide.

Advisor Masters can now use emails in their Client Relationship Management (CRM) dashboard. The emails are kept secure and hosted by a third party, RackSpace.

For more information, refer to the Users' Guide.

Brokers can now configure LSEETF markup in account management.

Following the launch of the Tel-Aviv Stock Exchange, TASE, brokers now have the ability to add markup for ILS stocks.

Brokers now have the ability to support markup for Baltic stocks on the Nasdaq Baltic exchange.

A new intituitve interface has been created to subscribe and unsubscribe to market data on your choice of TWS, Alternative Display and Non-Display Platforms sorted by available regions in Account Management.

For more information, see the Market Data page on our website.

If you have securities that were subject to litigation you may be entitled to compensation. To enroll, log in and go to Settings > Account Settings and from the configuration panel, click Litigation Recovery Service.

The responsively designed account management system has been expanded from individuals to Proprietary Trading Group STL master users. Log in to Account Management and click "New AM" in the bottom right corner of your screen to try it out.

Learn how to use the dashboard and other features in the Account Management Users' Guide.

The responsively designed account management system has been expanded from individuals to advisor master accounts. Log in to Account Management and click "New AM" in the bottom right corner of your screen to try it out.

Learn how to use the Customor Relationship Manager (CRM) dashboard and other features in the Account Management Users' Guide.

Advisors who select a threshold set a static number or index/benchmark as a performance fee on an annual or quarterly basis. Your client's performance must exceed the threshold for the fee to be assessed to the client.

The Customer Relationship Dashboard has expanded functionality for your clients allowing you to view, create, edit and delete notes and documents for your clients that can be accessed from your calendar.

For more information, see the Account Management Users' Guide.

Clients from China, Tawain and Hong Kong can change their delivery sources for market data and regional services in user settings.

For more information, see the Account Management Users' Guide.

Clients can now reset their paper trading account in configuration account settings.

For more information, see the Account Management Users' Guide.

The Customer Relationship Dashboard has expanded functionality for your clients allowing you to view, create, edit and delete events for your clients that can be accessed from your calendar.

For more information, see the Account Management Users' Guide.

Additional funding status details are being added to the Transaction History page in the Transfer & Pay section of acccount management. Additionally, the user interface has been updated to improve the user experience.

The Customer Relationship Dashboard has expanded functionality for your clients allowing you to export client data to a CSV file. Additionally, new menu items have been added to the configuration panel in the contacts screen.

For more information, see the Account Management Users' Guide.

A CSID is a unique identifier provided by Interactive Brokers that provides a layer of security when accessing Digital Account Management web services and other IB APIs.

For more information, see the Account Management Users' Guide.

The Customer Relationship Dashboard has expanded functionality for your clients allowing you to download registration tasks from the dashboard and specific contact pages.

For more information, see the Account Management Users' Guide.

You can now choose how we contact you about features, offers and services in user settings.

For more information, see the Account Management Users' Guide.

In addition to the other linking, moving and partition scenarios, you can now add a completely new account under the same username in account settings.

For more information, see the Account Management Users' Guide.

The Customer Relationship Dashboard has expanded functionality for your clients allowing you to access their reporting, trading, and portfolio menus. Additionally, you can now view your contact's account configuration settings and upload contacts via excel or Vcard.

For more information, see the Account Management Users' Guide.

For those qualified, go to Investors' Marketplace > Find Services> Investing > Hedge Funds.

For more information, see the Account Management Users' Guide.

The Bill Pay service allows users enrolled in the IBKR debit card program to schedule ACH and/or check payments to payees.

For more information, see the Account Management Users' Guide.

Manage your account and two-factor authentication device security by going to Settings > User Settings > Security Settings > Secure Login System.

For more information, see the Account Management Users' Guide.

For those qualified, go to Settings > User Settings > Trading Platform > Market Data Subscriptions. In the Non Professional Questionnaire panel, click the Configure (gear) icon.

For more information, see the Account Management Users' Guide.

The Customer Relationship Dashboard now shows your assets under management (AUM) and lets you create tasks, notes and upload documents for your contacts.

For more information, see the Account Management Users' Guide.

The withdrawable/transferable amounts in a client's account will now be displayed at the bottom of the page in the Transaction Information section.

In your profile account settings, you can now select and update your information for tax forms.

For more information, see the Account Management Users' Guide.

Advisors and Brokers can now enroll their clients and have a debit card sent to their address if they have the following:

• US Social Security Number
• US Mailing Address
• Verified Phone Number

For more information, see the Account Management Users' Guide.

The Investors' Marketplace lets Individual, Broker, Advisor, Hedge Fund, Money Manager and Administrator account holders form connections with each other and with other third-party service providers to do business on our platform.

For more information, see the IB website.

The Customer Relationship Management dashboard will now act as the home screen in Account Management for eligible accounts.

For more information, see the Account Management Users' Guide.

Accessing Post Trade Allocations will return you to the Classic Account Management application.

For more information, see the Account Management Users' Guide.

Trust accounts that meet all the following requirements are eligible to enroll:

• Documented evidence of the existence of the Trust and their authority to act on behalf of the Trust - usually in the form of a copy of an executed Trust Agreement (Unless court appointed Trust Order).
• Confirmed EIN for the entity (IRS Letter).
• CIP/OFAC performed on each of the Trustee.

The following currencies are supported:

• GBP
• HKD
• CNH
• SGD
• NZD

New and existing customers will be prompted to provide a valid mobile phone number in account management and during the application process.

• An existing Individual, Joint, Trust or IRA account holder moves his or her account to an existing Advisor or a Multiple Hedge Fund Investment Manager who is the second level of a three-level Advisor or Fully Disclosed Broker account.
• An existing Advisor or Multiple Hedge Fund Investment Manager with clients link to an Advisor or a Multiple Hedge Fund Investment Manager who is the top level of a three-level Advisor or Fully Disclosed Broker account. All existing clients move with the Advisor or Multiple Hedge Fund Investment Manager.

For more information about account linking, see the Account Management Users' Guide

• An existing Individual, Joint, Trust or IRA account holder moves his or her account to an existing Advisor or a Multiple Hedge Fund Investment Manager who is the second level of a three-level Advisor or Fully Disclosed Broker account.
• An existing Advisor or Multiple Hedge Fund Investment Manager with clients link to an Advisor or a Multiple Hedge Fund Investment Manager who is the top level of a three-level Advisor or Fully Disclosed Broker account. All existing clients move with the Advisor or Multiple Hedge Fund Investment Manager.

For more information about account linking, see the Account Management Users' Guide

Certain clients are now eligible to join offers to buy shares for an Initial Public Offering. Log in to Account Management and go to Trading > IPO subscription.

To learn how to enter into an IPO, see the see the Account Management Users' Guide

Clients with activated debit cards can now view their account withdrawel limits on the home page of Responsive Account Management.

For more information, see the Cash Details in the Responsive Account Management Users' Guide.

For more information, see the CFD page on our website.

Clients can join the Insured Bank Deposit Sweep Program to obtain up to $2,500,000 of FDIC insurance on cash held in IB accounts in additon to existing SIPC coverage.

For more information about enrolling, see the Cash Management page on our website.

Brokers and Advisors can use Account Management to enable the debit card signup for their clients. Once enabled, clients will be able to sign up for the debit card in their own instance of Account Management.

To allow clients to apply for the debit card, go to Manage Clients > Settings > Debit Card for Clients.

For more information, see the Debit Mastercard page on our website.

Brokers and Advisors can now set fee schedules for Polish stocks in Account Management.

Fully Disclosed Brokers now have the ability to become Full Service Brokers and perform additional functions on behalf of their clients by getting specific authorization from clients to modify additional settings in the client account. These additional broker authorizations are listed on the Client Account Details page for open and pending client accounts. Fully Disclosed Broker clients can authorize their broker to perform tasks in the following categories:

• Update or Change Account Information, Account Settings, Trading Permissions and Tax Forms:
• Provide or Change Banking and Transfer Instructions (withdrawals
will be allowed with pre-existing bank instructions only)
• Send Third Party Payments and Wires
• Special Programs and Alternative Investments

Fully Disclosed Brokers interested in becoming Full Service Brokers must opt into the program on the Manage Clients > Settings > Full Service page in Account Management.

For more information on becoming a Full Service Broker, see Additional Broker Authorizations in the Account Management Users' Guide.

We have introduced a new account structure - Institutional Hedge Fund Investors. These new accounts are designed for institutions such as endowments and foundations who want to access our Hedge Fund Marketplace and browse and invest in participating hedge funds.

For more information, see Institutional Hedge Fund Investors on our website.

As an alternative to entering a simple Annualized Percentage of Net Liquidation for client fees, advisors can now charge a blended rate based on up to five ranges of your client's Net Asset Value (NAV). In a blended rate, enter an annualized fee percentage for each NAV range, and the total blended rate is the sum of the fee amount for each range up to the client's current NAV.

To set a blended rate when configuring client fees, an advisor selects the new Blended check box and clicks the pencil icon to enter up to five NAV ranges and a corresponding fee percentage.

For more information, see the Account Management Users' Guide.

Brokers and Advisors who use fee per trade client markups can now enter minimum, maximum and ticket charges for Global (offshore) Mutual Funds. Previously, fee per trade markups were only allowed for USD and EUR mutual funds.

When a client chooses to link to an advisor from the Investors' Marketplace, that client will automatically be assigned the client fees that the advisor has set in the default client fee template. The client will now be able to see and sign off on the fees before he moving his or her account to the selected advisor.

Individual and Joint advisor clients who want to maintain separate trading strategies and take advantage of consolidated margin for maintenance and liquidation purposes can now become Separate Trading Limit (STL) accounts under the advisor by adding authorized traders.

To do this, first the advisor sends an account application to the client. Once the client account is open, the client will be able to add trading sub accounts by selecting Manage Account > Add or Link Accounts > Authorized Trader. This turns the client's account into an STL account.

If you unenroll from the Stock Yield Enhancement Program, you must wait 90 days before you can reenroll in the program.

The Statement Audit Report available in EmployeeTrack Management lets Compliance Officers review all employee statement views pending review, all employee statements that have been reviewed, and all employee statements not available for review for a single month. Compliance Officers can now choose to show only those employee statements with no activity by selecting a check box.

When the Statement Audit Report is generated for employee statements with no activity, Compliance Officers can review all of the employee statements at once by clicking the Review All button located at the bottom of the report.

Advisor Masters, Broker Masters and Fund Investment Managers can request up to five duplicate accounts for an existing client account. We have moved this functionality to the Dashboard under the Manage Clients menu. Previously, this functionality had its own page under Manage Clients.

In some cases, we ask our clients to identify themselves by answering the security questions that they provided in their account application. If you have forgotten these questions and answers, you can use the new Change Security Questions page in Account Management to change them.

This feature is only available to account holders who meet the following criteria:

• Have an Individual account (not Joint or IRA);
• Are not and Advisor or Broker client;
• Are using a Secure Login device or IB Key for two-factor authentication;
• The Net Liquidation Value of your account is less than 1 million USD.

Access this feature by clicking Manage Account > Security > Change Security Questions.

We have increased the limits on broker client markups. Broker client markups are now limited to 45 times Interactive Brokers' standard commissions. If a Broker submits a markup that is above 15 times our standard commission, IB will receive 1/15 of the amount above 15 times.

Our new Pre-Trade Compliance tool lets Advisors, Brokers, Hedge Fund Investment Managers, Proprietary Trading Group Master Account users and Compliance Officers apply trade-related restrictions to an account, a user or an entire family of accounts, including all client and sub accounts. We've introduced the following new features to the Pre-Trade Compliance Tool:

• Ability to See Restrictions History - Use the new History button to see the complete history of restrictions in the library and for specific accounts and users. The Restrictions Library includes the History button in the top right corner. Click it to view the add, edit and remove history of all restrictions. From the Accounts or Users page, select a specific account or user, then click the History button in the top right corner to see the history of restrictions that have been applied to or removed from a selected account or user.
• Addition of Market Cap Parameter in Restricted Product Rule - We've added the parameter "Stocks with market cap below threshold" to the "Restricted Products" and "Concentration Restrictions by Security or Product Type" rules. Select this parameter and set the threshold (in millions). Trading a product with a market cap below the specified threshold will cause the order to be rejected.

Advisors, Brokers, Hedge Fund Investment Managers, and Proprietary Trading Group Master Account users can launch the Pre-Trade Compliance tool from the Manage Account > Trade Configuration > Restrictions page or the Manage Clients/Funds/Traders > Trading > Restriction page in Account Mangement. Simply click the Pre-Trade Compliance button to launch the new tool.

Compliance Officers can launch the Pre-Trade Compliance tool from the Manage Employees > Trading Restrictions page in EmployeeTrack Management. Click the Pre-Trade Compliance button to launch the new tool.

• For more information, see the Pre-Trade Compliance Tool Users' Guide.
• Compliance Officers should use the EmployeeTrack version of the Pre-Trade Compliance Tool Users' Guide.

Fully Disclosed and Non-Disclosed Brokers can mark up debit interest when configuring fees for their clients. We have raised the Debit Markup limit from 1% to 5%. In addition, we will charge 25% of the debit interest markup over 1%.

The new 25% Charge Over 1% column shows the interest markup that IB will earn. For example, if you enter 1 (for 1%) in the Debit Markup field, then 0 will appear in the 25% Charge Over 1% field. If you enter 5 (for 5%) in the Debit Markup field, 1 will appear in the 25% Charge Over 1% field (25% of 4%, the amount of Debit Markup over 1%, is 1%).

When configuring fees for a single client, multiple clients or a for client fee template, brokers now choose a pricing structure (commission plan) before actually setting fees or markups. There are three pricing structures to choose from:

• Tiered Pricing Structure with No Markups - Clients will be charged tiered commissions but no additional markups. This is the default selection.
• Tiered Pricing Structure with Markups - Clients will be charged tiered commissions with additional markups as specified by the broker.
• Fixed Pricing Structure with Markups - Clients will be charged a fix commission with additional markups as specified by the broker.

Each selection is applied to all securities and commodities in the broker client's account.

Tiered Pricing Structure with No Markups will automatically be applied to new brokers and their clients. The broker can change this selection on the Manage Clients > Fees > Configure page in Account Management.

For more information about our tiered and fixed commissions, see the Commissions pages on our website. For more information about how to configure fees for broker clients, see the Account Management Users' Guide.

Our Advisor Fee Reimbursement feature lets advisors reimburse fees to their clients. Now fee reimbursements can include any type of advisor fee. Previously, fee reimbursements were restricted to fees for which electronic invoices were submitted. Submit fee reimbursements on the Manage Clients > Fees > Invoicing page in Account Management.

By popular demand, we have brought back our Trader Referral Program, which lets you send an invitation to a friend or fellow investor to open an account with us, and in return receive a bonus of up to $200.

The Trader Referral Program is open to Individual, Joint, Trust and IRA accounts, but not Advisor or Broker clients. Sign up on the Manage Account > Trader Referral page in Account Management.

Learn more about the program, including payout rules, in the Account Management Users' Guide.

Our new Pre-Trade Compliance tool lets Advisors, Brokers, Hedge Fund Investment Managers, Proprietary Trading Group Master Account users and Compliance Officers apply trade-related restrictions to an account, a user or an entire family of accounts, including all client and sub accounts. The Pre-Trade Compliance tool replaces all trading restrictions previously available in Account Management and EmployeeTrack Management. You must use the new tool to create and apply trading restrictions.

Advisors, Brokers, Hedge Fund Investment Managers, and Proprietary Trading Group Master Account users can launch the Pre-Trade Compliance tool from the Manage Account > Trade Configuration > Restrictions page or the Manage Clients/Funds/Traders > Trading > Restriction page in Account Mangement. Simply click the Pre-Trade Compliance button to launch the new tool.

Compliance Officers can launch the Pre-Trade Compliance tool from the Manage Employees > Trading Restrictions page in EmployeeTrack Management. Click the Pre-Trade Compliance button to launch the new tool.

• For more information, see the Pre-Trade Compliance Tool Users' Guide.
• Compliance Officers should use the EmployeeTrack version of the Pre-Trade Compliance Tool Users' Guide.

You can now import VCards (.VCF files) into CRM for contact or prospect records, thus saving time in entering contact or prospect information.

For more information, see Import Contacts in the Account Management Users' Guide.

Through our new Advisor Compliance Obligations Reporting System, we now provide Section 13 monitoring, alerts and on-demand reporting in Account Management for advisors trading through us that may need to file Form 13F or Schedules 13D/13G with the U.S. Securities and Exchange Commission (SEC) because of the types and amount of positions held in their client and proprietary accounts. This system was designed to support Form 13F and Schedule 13D/G monitoring and reporting for advisory firms with multiple advisors.

Once an Advisor subscribes to this service, we monitor their aggregate sub account and proprietary positions for thresholds specified in Section 13 of the Exchange Act. Advisors can elect to receive alerts and/or reports when their positions exceed these thresholds. These advisors are then required to file the appropriate form or schedule with the SEC.

We currently support the following filings:

• Form 13F - Reporting equity positions in managed portfolios of more than $100 million.
• Schedules 13D/13G - Reporting significant acquisition and ownership positions.

For complete instructions, see Compliance for Advisors in the Account Management Users' Guide.

Canadian account holders can now participate in our Stock Yield Enhancement Program, which allows our clients to earn extra income on the fully-paid shares of stock held in their accounts. Sign up for the program on the Manage Account > Trade Configuration > Permissions page in Account Management..

Click here more information about the Stock Yield Enhancement Program.

Accounts opened under IB-HK (Hong Kong) can now request third-party withdrawals, which are wire withdrawals from your IB account to an eligible third party.

For more information on third-party withdrawals, see our Funding Reference.

Advisors and Brokers who set up fee-per-trade client fees based on a tiered commission schedule now have access to two additional tiers. Previously, when Advisors and Brokers set absolute amount tiered commissions based on volume breaks, they could only set three tiers. They can now set up to five tiers.

For more information about setting client fees, see the Account Management Users' Guide.

Advisors and Brokers who have added users designated as Account Representatives can now search for Account Representative in the Account Selector on our Reporting pages.

Our Hedge Fund Marketplace lets Hedge Funds market their Funds to eligible clients. We have adopted new rules governing Hedge Fund updates on our Hedge Fund Marketplace:

• At the end of a quarter, participating Hedge Funds have 30 days to enter updates. If they do not update their information by that time, the Fund will be moved to the bottom of the list of available funds on the Hedge Fund Marketplace.
• If a Fund has not provided any updates after two quarters and 30 days, the Fund will be hidden from view on the Hedge Fund Marketplace.
• If a Fund has not provided any updates for four quarters and 30 days, the Fund will be removed from the Hedge Fund Marketplace.

We renamed Registered Representatives for Broker clients to Account Representatives and changed the way Broker Master Users can assign Account Representatives to a client. An Account Representative is a person who manages the relationship between a broker and his or her client(s).

To assign an Account Representative to a client, the Broker Master User must first designate an account user as an Account Representative on the Manage Account > Access Rights > Users page. Once there is at least one account user designated as an Account Representative, the Broker Master User can assign the Account Representative to a client by first opening the Manage Clients > Dashboard page, then viewing the Account Details for the client, and then clicking the plus sign in the Account Representatives section.

Through Covestor, we now offer Smart Beta Portfolios to IB customers, including Advisor clients. Smart Beta Portfolios combine the benefits of actively managed fund stock selection techniques with passive ETF low cost automation to provide broad market exposure and potentially higher returns.

For complete instructions for Advisors on how to connect their clients to Covestor accounts, see Covestor Smart Beta Portfolios for Advisor Clients.

CRM now lets Advisors and Brokers generate VCards for individual CRM records. From an individual CRM contact, prospect or client record, you can export the record to a .VCF file, which is a VCard that can be opened in Microsoft Outlook. Simply click the VCard link from the individual record and you will be prompted to save the .VCF file.

Registered Investment Advisors can now create multiple-tier accounts that match their own company strucutre by adding Advisor, Proprietary Trading Group STL and Multiple Hedge Fund master accounts to their account structure. Each Advisor, Proprietary Trading Group STL and Multiple Hedge Fund master account holder can then add client/sub/hedge fund accounts as required. Advisors cannot add Money Managers to a multiple-tier account structure.

For more information about setting up three-tier Advisor accounts, see the Account Management Users' Guide.

Advisors and Brokers who have additional users associated with their master account can allow these users to access all of CRM. To enable CRM access for these users, send an email to crm@interactivebrokers.com and include your account number the name of the primary master account user. Once enabled, these additional users will have access all CRM features.

Note that only one user can edit a CRM contact at one time. A second user will not be able to edit a contact that is currently being edited by another user. If this happens, a message appears to inform the second user that the record is locked for editing.

We've renamed our Reg T Margin accounts. We're now calling these account "Margin" accounts. The margin rules and capabilities of these accounts have not changed; only the name has changed. You will see the new name for this account type reflected on the Account Types page in Account Management when you want to upgrade a Cash account to a Margin account or upgrade your Margin account to a Portfolio Margin account, and account applicants will see this change reflected in our account applications.

We've added a new trading restriction for Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users who need to restrict trading for their client/sub accounts. Concentration Restrictions By Product restrict client/sub accounts or the entire account structure from making any trade that would cause the concentration in specific products or security types to exceed an amount or percent threshold.

To configure this trading restriction, select a product or security type, and then enter concentration amount or percent thresholds, and optionally set Time-in-Force (TIF) settings to apply the restriction to a specific date range. You can apply this restriction to long positions and/or short positions in your portfolio. When you set an amount or percent Concentration Restriction By Product, any orders that cause the amount or percentage of position concentration of the selected product to exceed the specified threshold will be rejected.

Click here for more information on setting trading restrictions for client/fund/sub accounts. Click here for more information on setting trading restrictions for your entire account structure (master and client/fund/sub accounts).

In addition to the new trading restriction described above, we've also added a new trading restriction for Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users who need to restrict trading for their client/sub accounts, and for Compliance Officers who use EmployeeTrack to monitor employees' trading activities. Restrictions by Product restrict client/sub account or the entire account structure from trading specific products or security types.

To configure this trading restriction, select a product or security type, and optionally set Time-in-Force (TIF) settings to apply the restriction to a specific date range. Orders for the enabled product and security type restrictions will be rejected.

Click here for more information on setting trading restrictions for client/fund/sub accounts. Click here for more information on setting trading restrictions for your entire account structure (master and client/fund/sub accounts).

IB is dedicated to providing our clients with the best research. To that end, we now let all of our clients set up a separate login to receive additional services from our third-party research providers.

In Account Management, click Manage Account > Research Services > Research Website Login, select a research provider, and then enter a unique password. Once the new password has been processed (usually one business day), you can use your IB account email address and the new password to log in to your selected research provider's website to access that provider's additional services.

To help Advisors who bill advisory fees using one of IB’s Automatic Calculation options meet their compliance obligations, we can send your clients invoices detailing the advisory fees automatically calculated and deducted from their accounts at their request when those fees are actually charged. These notices describe the method used to calculate the fee, the amount of the fee and the period covered by the fee.

Advisors can now choose how to notify their clients of advisory fee invoices by clicking the Configure Invoice Notifications button on the Manage Clients > Fees > Invoicing page.

Choose how we send these notices to all of your clients:

• By email.
• Through the Customer Service Message Center.
• No notification at all. By default, your clients will NOT receive these notices. All advisory fees processed through IB are reflected on the client's Activity Statements.

For complete instructions, see Configure Invoice Notifications in the Account Management Users' Guide.

We've added a new trading restriction for Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users who need to restrict trading for their client/sub accounts. Trading Hours restrictions restrict a selected client/sub/fund account from trading during specific hours.

Compliance Officers using EmployeeTrack Management to manage employees' trading activities can also apply the new Trading Hours restriction to employees.

To configure this trading restriction, simply select time zone and then enter the start and end times of the period during which you want to restrict the client/sub/fund account's trading. Orders placed from the account during the hours indicated will be rejected.

Click here for more information on setting trading restrictions for client/fund/sub accounts. Click here for more information on setting trading restrictions for your entire account structure (master and client/fund/sub accounts).

Brokers can charge markups on prime trades of certain currency/product units in the new Take Up Fees section on the Configure Fees page. This section only appears for brokers who have at least one client who subscribes to our IB Prime institutional service.

Specify the take up fee as absolute amount in the Ticket Charge field for the specific currency/product unit; for example, CAD futures. A take up fee is simply an additional flat fee.

For more information on broker client fees, see Broker Client Fees in the Account Management Users' Guide.

We've added a new trading restriction for Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users who need to restrict trading for their client/sub accounts. Concentration Restrictions by Symbol restrict a selected client/sub/fund account from making any trade that would cause the position concentration in specific symbols in the account to exceed an amount or percent threshold.

To configure this trading restriction, you search for and select specific symbols, and then enter concentration amount or percent thresholds, and optionally set Time-in-Force (TIF) settings to apply the restriction to a specific date range. For this trading restriction, we calculate the net amount of all positions in your portfolio. You can apply this restriction to long positions and/or short positions in your portfolio. When you set an amount or percent Concentration Restriction By Symbol, any orders that cause the amount or percentage of position concentration of the selected symbols to exceed the specified threshold will be rejected.

Click here for more information on setting trading restrictions for client/fund/sub accounts. Click here for more information on setting trading restrictions for your entire account structure (master and client/fund/sub accounts).

We've updated our database-driven Customer Relationship Management (CRM) system, which lets advisors and brokers manage the entire customer relationship life cycle in one place in Account Management.

To make it easier to send IB account applications to contacts and prospects, we've added the following links to individual contact records:

• Application Invite - Send a fully electronic application invitation to a contact or prospect.
• Semi-electronic Invite - Send a semi-electronic client application invitation to a contact or prospect. In a semi-electronic application, the advisor or broker completes an online application then sends a printed copy to the client for signature.

We've also added the following links to individual contact records:

• Print - Print the record
• Export - Export the record to a Microsoft Excel-readable.CSV (comma-separated values) file.
• Delete - Delete the record.

We've added more Account Management functions to our User Access Rights system. When assigning access rights to users, you can now specify access rights to the following functions in Account Management:

• IB FYIs
• Transaction Cost Analyis
• External Accounts
• Recurring Transactions
• Soft Dollars Disbursement
• CAM (Customer Activity Monitor)
• CRM
• Investors' Marketplace

We've added new trading restrictions for Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users who need to restrict trading for their client/sub accounts.

Net Portfolio Trading Restriction - Restrict a client/sub account from making any trade that would cause the net amount of all positions in the account to exceed an amount or percent threshold. This restriction allows Time-in-Force (TIF) settings to apply the restriction to a specific date range. For this trading restriction, we calculate the net amount of all positions in your portfolio. You can apply this restriction to long positions and/or short positions in your portfolio. When you set an amount restriction, any orders that cause the net amount of all of your positions to exceed the specified threshold will be rejected. When you set a percent restriction, any orders that cause the percentage of the net amount of all of your positions to exceed the specified threshold will be rejected. For more information, see Net Portfolio Restrictions.

Liquidation/Closing-only Trading Restriction - Restrict a selected client/sub account to liquidation or position-closing trades only. This restriction allows Time-in-Force (TIF) settings to apply the restriction to a specific date range.

Institution master account users set these trading restrictions for specific client/sub/fund accounts on the Manage Clients/Funds/Traders > Trading > Restrictions page. For more information, see the Account Management Users' Guide.

Institution master account users can also set these restrictions for their entire account family (master account and all client/sub/fund accounts) or only for their own account on the Manage Account > Trade Configuration > Restrictions page. For more information, see the Account Management Users' Guide.

Cash Forex (known in the past as Leveraged Forex or Forex-Leveraged), lets you borrow to establish a Forex position (i.e., trade Forex on a leveraged basis).

All IB LLC customers, IB-UK customers introduced to IB LLC on a fully disclosed basis, and all fully disclosed broker clients MUST be Eligible Contract Participants (ECPs) to be be eligible to trade Cash Forex. An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging). The complete definition is located in Section 1a(18) of the Commodity Exchange Act.

Request permission to trade Cash Forex on the Manage Account > Trade Configuration > Permissions page in Account Management. If you are not already an ECP, you will be asked to complete a brief questionnaire to become an ECP. Once you have been approved as an ECP, you will be able to trade Cash Forex.

Advisor, Proprietary Trading Group, Broker and Fund Investment Manager master account users can now restrict trading for their own accounts, for their entire account families (including all client/sub accounts), and for specific client/sub accounts based on Net Margin thresholds.

Net Margin trading restrictions can be based on Excess Liquidity or Margin Cushion thresholds. Once the restriction has been set in Account Management, any trade that would result in either Excess Liquidity or Margin Cushion falling below the specified threshold would be rejected.

Institution master account users set this trading restrictions on the Manage Clients/Funds/Traders > Trading > Restrictions page. For more information, see the Account Management Users' Guide.

Eligible IB clients can now request permission to trade Forex CFDs on the Manage Account > Trade Configuration > Permissions page. All clients can trade Forex CFDs, except residents of the USA, Canada, Hong Kong and Australia. There are no exemptions based on investor type to the residency-based exclusions. Forex CFDs are traded exactly like Spot FX.

Forex CFDs, like other CFDs, are carried by IB UK, and therefore if you have an IB LLC account you will be prompted to open an IB UK segment. The IB UK segment will have your current account number followed by the suffix F.

For more information about Forex CFDs, see the IB Forex CFDs - Facts and Q&A topic in the IB Knowledge Base.

We've added more Account Management functions to our User Access Rights system. When assigning access rights to users, you can now specify access rights to the following functions in Account Management:

• Money Manager
• Client Link Requests
• Households
• White Branding

Advisors can now create default fee templates on the Manage Clients > Fees > Templates page. You can modify the default fee template but you cannot delete it.

Your base currency determines the currency of translation for your statements and the currency used for determining margin requirements. Base currency is determined when you open an account. Customers who hold a margin account may change their base currency at any time through Account Management.

We've added the following base currencies:

• Israeli Shekel (ILS)
• Russian Ruble (RUB)

Advisors and Fully Disclosed Brokers can request inbound international asset transfers for a client account but the client must create a position transfer instruction first and the Advisor or Broker must use those instructions.

As an Advisor, when you configure client fees, you can include a maximum invoicing amount or percentage cap on a monthly or quarterly basis. The percentage cap is the maximum percentage of the amount of a client account's Net Asset Value (NAV) to be invoiced. You can set an amount or a percentage cap or both.

We've updated the percentage cap so that you must enter the amount and/or percentage cap and then select the time period (monthly or quarterly). If you set both the amount and the percentage cap, we will use the lower of the two amounts as the amount to be charged.

For percentage cap, we look back on the prior period to calculate the fee limit, while amount looks at the current period. The calculation we use is:

(Fee Cap % x Ending Client NAV) / 252

where 252 is the average number of business days in a year.

For more information, see the Account Management Users' Guide.

Separately Managed Accounts (SMAs) under an Advisor can add users to the SMA account and add trading access for those users, but ONLY if client trading has been enabled for SMA account.

You can now disable the Hong Kong (Short Sell) trading permission on the Manage Account > Trade Configuration > Permissions page. Previously you could enable this trading permission but could not disable it.

Canadian (IB-CA) account holders can now subscribe to the following IB Institutional Services:

• IB Clear
• IB Prime

For more information about these services and how to subscribe to them, see the Account Management Users' Guide.

When you log in to Account Management, you can now use your use your live or paper trading account username and password to log in to your paper trading account. You can still use your paper trading account username and password to log in to your paper trading account.

For more information, see the Account Management Users' Guide.

Second-tier Advisors (RIA's under a Fully Disclosed Broker account), unregistered Advisors and Friends and Family account Advisors can now access the Money Manager Marketplace, link to Money Managers and assign client accounts to Money Managers. Previously, these accounts had no access to Money Managers.

We've updated the format for .CSV client invoice files uploaded by Advisors on the Manage Clients > Fees > Invoicing page.

The .CSV file containing multiple client invoices should contain the following fields in the following order (note that some fields are optional):

• Client Account Number
• Amount
• Currency (USD, CAD, EUR, INR, CNH, etc.)
• Memo (Optional field; this field can be left empty)
• Money Manager Account Number (Optional field; use this field if the invoice is to be paid to a Money Manager or else leave empty)
• Model (Optional field; this field can be left empty)

For more information, see the Account Management Users' Guide.

Fully Disclosed Brokers can now close client accounts. Previously, Fully Disclosed Brokers could not close client accounts.

For more information, see the Account Management Users' Guide.

Fund Investment Manager and Registered Professional Advisor who use soft dollars to offset the costs of purchasing approved research products and services can now use soft dollars to pay for market data. Elect to use soft dollars to pay for market data on the Funding > Soft Dollars Disbursement page in Account Management.

The following rules apply to the use of soft dollars for market data:

• Your market data fees will be paid out of your accumulated soft dollars ONLY if there are enough accumulated soft dollars at the time the market data fee is charged.
• If there is not enough accumulated soft dollars at the time the market data fee is charged to your account, soft dollars will NOT be used.
• If you pay for market data for client accounts, then you cannot use soft dollars to pay for that market data.

For more information, see the Account Management Users' Guide.

You can now link your individual, joint, trust or IRA account to an existing Advisor- or Broker-managed account under a single username. Previously when you linked an existing account to an Advisor- or Broker-managed account, you had different usernames for each linked account.

Link existing accounts on the Manage Account > Add or Link Accounts > Link Existing Accounts page.

Advisors who upload invoices for multiple clients in a .CSV (comma-separated values) file can now include model fees in their .CSV file. Add the Model field to your .CSV file to include model fees in your client invoices.

Advisors upload invoices on the Manage Clients > Fees > Invoicing page in Account Management.

The Advisor/Broker Account Setup page has been renamed. It is now called Move, Link or Partition an Account, and is still available from the Manage Account > Add or Link Accounts page. The functions available on this page have not changed. You still use this page to where you move your entire account to an Advisor or Broker, create a new account that will be managed by an Advisor or Broker, or divide your account into two partitions, one of which will be managed by an Advisor or Broker and one of which will be managed by you.

For more information, see Move, Link or Partition an Account in the Account Management Users' Guide.

When you use the Account Selector to select accounts on Reporting pages (Activity Statements, etc.), you can now search for and select account partitions.

We no longer support Self-Directed IRA Third-Party Custodian Accounts. This account type allowed Advisors to add IRA client accounts held at designated third-party trustees.

We have made the following updates to our Secure Login System physical security devices:

• The Digital Security Card is no longer supported.
• We now provide either the Security Code Card, available to accounts with a balance of less than 500,000 USD, or the Digital Security Card+, available to accounts with a balance greater than 500,000 USD.

Note that these changes do not affect IBKR Mobile authentication (IB Key), our two-factor authentication security app for your Android or iOS mobile device.

For more information, see our Login Protection page.

Advisors can now specify a maximum invoice amount as a percentage of a client's Net Asset Value when they configure client fees on the Manage Clients > Fees > Configure page in Account Management. Advisors can specify an absolute amount in the Amount field, the new percentage cap in the Cap field, or both. Advisors must also specify either Monthly or Quarterly as the time period.

Interactive Brokers has always allowed our clients to opt out of the Secure Login System program, which provides login protection through two-factor authentication. We believe that it's important for our clients to protect their accounts, so we have removed the ability to fully opt out of the program.

All clients can still request a partial opt-out. When you request a partial opt-out, a Secure Login device is required to log into Account Management only. You will be able to use your username and password without a security device to log into any of our trading platforms.

As of March 15, 2016, the Trader Referral Program was discontinued. Interactive Brokers will no longer be accepting applications to this program. If you signed up for the Trader Referral Program before March 15, 2016, you will still receive your referral bonus, subject to the requirements and restrictions that were in place when the program was active.

If you would like to become a Referral Partner, see our Referral Partner page.

The RIA Forums, previously available from the Support menu, have been removed from Account Management.

Transaction history (Funding > Transaction History) now includes Free Delivery position transfers, which are free delivery transactions not initiated in Account Management.

The Trader Workstation page (Trade > Trader Workstation) has been removed from Account Management. You can no longer connect to TWS from within Account Management.

We have modified the procedure for white branding Trader Workstation (TWS). Advisor and Broker Masters and Hedge Fund Investment Managers who want to white brand TWS no longer have to create custom .jnlp files to provide white-branded TWS access. Instead, you must now provide one of two hyperlinks on your website:

• Latest TWS version, Updatable - This link points to a TWS installer that will automatically update and will always have the latest functions: https://www.clientam.com/en/index.php?f=16040&conf=am&wbid=MYBROKERWBID where MYBROKERWBID is your actual White Branding ID
• Latest "Offline" TWS. This URL links to the installer for a static TWS where the version does not change unless the user manually downloads and installs TWS again: https://www.clientam.com/en/index.php?f=16044&conf=am&wbid=MYBROKERWBID where MYBROKERWBID is your actual White Branding ID

If you have previously configured your website with .jnlp files, replace the old JNLP link on your website with one of the links above and verify that the White Branding logo is the correct size on the download page and that you can download and install TWS successfully.

The Trader Workstation page (Trade > Trader Workstation) has been removed from Account Management. You can no longer connect to TWS from within Account Management.

Minimum monthly fees, IRA account fees and market data and research fees are charged to client accounts by default. Previously, Advisors could elect to charge these fees for all client accounts to their own Advisor master account on the Manage Clients > Fees > Charge Fees to Master page in Account Management.

Begining with this release, Advisors can now charge these fees to their own master account on a per-client account basis. The Charge Fees to Master page has been removed and Advisors now make this election when configuring client fees on the Manage Clients >Fees > Configure Fees page.

If you have a multiple account structure (linked accounts, for example), you could always use the account switching tool at the bottom of any page in Account Management to change the active account for all of Account Management. This tool now supports account partitions, which means that if you have divided your account into partitions, you can now change the active account in Account Management from the parent partition to the child partition using the account switching tool.

To change the active account, simply click the down arrow next to your account title at the bottom of any page in Account Management, and then select a different account or partition from the list that opens. In the list, partitions are underlined; to select a different partition, click the account listed immediately below the line with the word "Partition."

We've added a new Position Transfer Method to the Funding > Position Transfers page in Account Managment: International Assets. International Assets position transfers REPLACE the previous methods of transferring Asian and European positions into your IB account. Make note of the following changes:

• The previous method of transferring Asian assets, which required that you submit a Customer Service Inquiry Ticket and complete a form, is no longer supported in Account Management.
• The previous method transferring European assets, which required that you complete and submit a transfer form, is not longer supported in Account Management.
• You can only transfer Asian and European stocks, bonds, structured products and options into your account using this transfer method. No other Asian or European asset classes can be transferred to your account in Account Management.
• To transfer Asian or European positions into your IB account, first select International Assets as the Transfer Method, then search for assets by symbol, ISIN or CUSIP, and then select the assets you want to transfer.
• Position transfers from Hong Kong, Australia, Japan, Belgium, France, Germany, Italy, the Netherlands, Spain, Switzerland, and the UK are currently supported.

You use the Advisor/Broker Acount Setup page to move or link your account to an Advisor- or Broker-managed account, or divide your account into partitions, one of which will be managed by an Advisor or Broker. This page has been removed from the Manage Account menu.

To access this page, you now first search for and select an Advisor in the Advisor Marketplace or a Broker in the Broker Marketplace, then click the Link button in the information window for that Advisor or Broker. In Account Management, you access these marketplaces from the Investors' Marketplace > Search Services > Investing menu.

You now have more than one option when you want to link your account to an Advisor- or Broker-managed account:

• Move your entire existing account, including all cash and positions, to an Advisor- or Broker- managed account, or
• Create a new account that will be managed by an Advisor or Broker and keep your existing account. The new Advisor/Broker-managed account will be linked to your existing account. The Advisor or Broker must approve this linked account, which will be open and ready to be funded by 6:00 PM on the same business day. If you submit your link request after 4:00 PM, the linked account will be open and ready to be funded by 6:00 PM on the next business day.
• Divide your account into two partitions: one that will be managed by you and the other that will be managed by an Advisor or Broker. These account partitions are considered to have a parent-child relationship. The partition managed by you will be the parent partition and the partition managed by the Advisor or Broker will be the child partition. The child partition will be open and ready to be funded by 6:00 PM on the same business day. If you submit your request after 4:00 PM, the new partition will be open and ready to be funded by 6:00 PM on the next business day.

Advisor- or Broker-managed accounts and partitions may be subject to fees as specified by the Advisor or Broker.

You link your account to an Advisor- or Broker-managed account by requesting a link in the Advisor's or Broker's listing in the Advisor Marketplace or the Broker Marketplace, or by selecting Manage Account > Add or Link Accounts > Advisor/Broker Account Setup in Account Management.

For more information about linking to an Advisor-or Broker-managed account, see the Account Management Users' Guide.

Beginning with this release, you now update your IRS Form W-8 (non-US legal residents and non-US citizens) or W-9 (legal residents and citizens of US) on the Tax Form Collection Page. The W-8/W-9 page has been removed from Account Management.

Access the new Tax Form Collection page by clicking Manage Account > Account Information > Tax Information > Tax Forms to:

• Review and update important tax-related information;
• Update your IRS Form W-8 or W-9.

When an organization adds a new owner, the new owner must log in to Account Management to complete the form on the Tax Form Collection page.

We have made some changes to the way organizations, including Proprietary Trading Group and Small Business accounts, add new owners and update ownership percentages.

• The Ownership Percentage page has been removed from the Manage Account menu. Accounts that are organizations now use the new Withholding Statements page to update the ownership percentage of all owners. This new page also lets organizations verify the name and address, Tax ID number, and tax statuses of all owners. Access this new page by clicking Manage Account > Account Information > Tax Information > Withholding Statement.
• When an organization adds a new owner, the account master user or account holder adds either an individual or entity user on the Manage Account > Account Information > Details > Profile page, and selects Owner as the Association Type and enters the ownership percentage. The new owner receives his or her own username and password, and must log in to Account Management to complete a one-time form.

Beginning with this release, non-disclosed brokers can no longer update their clients' W8 or W9 forms in Account Management.

We no longer offer paper applications for any of our institution accounts or institution client accounts. We encourage our Advisor, Broker, Hedge Fund, and Proprietary Trading Group accounts to use fully electronic or semi-electronic client account applications, which are available from within Account Management.

Beginning with this release, requests from EmployeeTrack Management for Activity Statements and Activity Flex Queries with a large amount of activity will now be placed in a queue for batch processing. Specifically, any Activity Statement or Activity Flex Query request that includes over 20,000 activities or over 250 accounts will be automatically submitted for batch processing. When you generate one of these reports, you will receive a message indicating that it has been submitted for batch processing.

You can view the status of these requests as well as view completed report requests on the Batch Reports page, which is accessible in EmployeeTrack Management from the Reports > Activity menu.

For detailed information on batch reports in EmployeeTrack Management, see the EmployeeTrack Management Users' Guide.

We've updated our database-driven Customer Relationship Management (CRM) system, which lets advisors and brokers manage the entire customer relationship life cycle in one place in Account Management.

CRM now includes:

• An updated user interface, redesigned for ease of use and including new, simpler icons for most functions.
• Summary views of current tasks and events displayed on the CRM home page.
• Email - We provide secure email accounts with 25 GB of storage through Rackspace for USD 1 per month, which will be charged to your IB account. You set up these email accounts through CRM, and they cannot be accessed by Interactive Brokers.
• Events and Tasks - Schedule events for individual contacts with our easy-to-use interactive calendar, and add easily add important tasks to contacts.
• Check on the progress of client account applications and view detailed information about your current clients with a click of your mouse.
• Advanced Search capability, including a wide variety of available search criteria.
• Groups - organize all of your contacts into groups for ease of management. Quickly create new groups, add and remove contacts to and from a group, rename and delete groups.
• Bulk Email - Send an email with attachments to multiple contacts or to all some or all members of a group.

For detailed information on CRM, see the Account Management Users' Guide.

Beginning with this release, you can automatically invest your cash dividends from common and preferred stocks in the underlying stock. You turn automatic dividend reinvestment on or off at the account level only; that is, you cannot choose which dividends to reinvest. Once you enable dividend reinvestment in Account Management, IB will use your dividend payment to purchase additional shares of that stock.

Note the following:

• Dividend reinvestment is turned off by default.
• The program is currently available to IB LLC clients only.
• If your account is in a margin deficit and can’t initiate new positions, your dividends will not be reinvested, even if you have dividend reinvestment enabled.

For detailed information on how to enable and disable dividend reinvestment, see Dividend Reinvestment in the Account Management Users' Guide.

Effective with this release, the W-8/W-9 page that lets you update your Request for Taxpayer Identification Number and Certification, has been moved. You can now find this page in the new Tax Information submenu in the Manage Account menu. To access the W-8/W-9 page, click Manage Account > Account Information > Tax Information > W-8/W-9.

Effective with this release, the password length limitations for login credentials have been significantly expanded to allow passwords of up to 40 characters long for Account Management access.

Previously, uploaded invoices for soft dollar disbursements were unavailable for viewing. With this new release, you can now both upload and view soft dollar invoices from the Funding > Soft Dollar Disbursements page in Account Management.

Beginning with this release, Brokers, Professional Advisors and Fund Investment Managers can choose to hide the Investors' Marketplace when setting up white branding for Account Management. Access these settings in Account Management by clicking Manage Account > Settings > White Branding, and then click Registration System, Account Management, Statements and PortfolioAnalyst. The Hide Investors' Marketplace check box is located in that section.

For more information, White Branding Account Management, the Registration System and Statements in the Account Management Users' Guide.

We've renamed our popular Hedge Fund Capital Introduction Program to Hedge Fund Marketplace. The program itself has not changed; only the name has changed. The Hedge Fund Marketplace is our online version of a traditional Capital Introduction program and is designed to help Hedge Funds who use us as their principal Prime Broker market their Funds to our customers who are Accredited Investors and Qualified Purchasers, as well as other Hedge Funds who have opened their funds to investing by qualified IB clients. Access the Hedge Fund Marketplace at our Investors' Marketplace, or by clicking Investors' Marketplace > Advertise Services > Investing > Hedge Funds in Account Management.

Beginning with this release, Brokers can charge markups to their clients based on our stock borrow rates, entered as a variable or fixed percentage of our borrow rate. You can enter both types of markups and our system will apply the markup rate that results in the larger total amount.

• Variable borrow fee markup - This is a variable percentage of our borrow rate. The total cost to your client is calculated as follows: Borrow Rate (1 + Variable Markup Percentage) The range of acceptable values that you can enter is 0 - 25%.
• Fixed borrow fee markup - This is a fixed percentage of our borrow rate.The total cost to your client is calculated as follows: Borrow Rate + Fixed Markup Percentage) The range of acceptable values that you can enter is 0 - 1%.

Enter markups on borrow fees on the Configure Fees page in Account Management (click Manage Clients > Fees > Configure), in the Interest Rate section.

For more information about borrow fee markups including examples, see Types of Broker Client Markups in the Account Management Users' Guide.

The enhancements and modifications below are available as of July 2, 2015.

Beginning with this release, Registered Investment Advisors can invest in a hedge fund at the Hedge Fund Marketplace (formerly Hedge Fund Investor Site) on behalf of an eligible client, and charge fees on the current value of the amount that their clients have invested at the same time.

The Advisor begins this process from the Dashboard by clicking the desired client account to view the Client Account Details, and then clicks Hedge Fund Marketplace in the Special Programs section. For each client who invests in a participating hedge fund, the Advisor can enter fees based on the Annualized Percentage of Net Liquidation Value of the current value of the client's investment in the Fund and/or the percentage of profit and loss of the client's investment in the Fund, as well as configure the fee posting frequency (monthly or quarterly), all from the Hedge Fund Marketplace.

Clients must approve hedge fund investments that you make for them if they have never invested in a specific fund before. If the Advisor included fee changes with the investment, the client can approve both the investment and the fee changes at the same time on the Pending Items page, available from the Account Management Home page. Once the client confirms the investment on the Pending Items page, he or she will be asked to enter a signature on a confirmation page. In addition, the Advisor can view any pending hedge fund investments for a client by clicking the Pending Items tab from the Dashboard.

To be eligible to invest in a Hedge fund at the Hedge Fund Investor Site, an Advisor client must be an Accredited Investor or Qualified Purchase under SEC rules. Click here to see additional eligibility requirements and rules for hedge fund investing.

Our new RIA Forums page gives Registered Investment Advisors access to the IB Advisor Forums, an online community for advisors. The IB Advisor Forums are built on a common Internet bulletin board forum and include the following features:

• Create and post comments in multiple forums. The Index tab displays all forums. Click any forum name to view the posts in that forum.
• Search for specific forum users and view a list of all forum users on the User list tab.
• Search for posts by keyword, author or forum on the Search tab.
• Enter and edit information about yourself, including email address, password, personal information, and edit display and privacy settings on the Profile tab.

Access the RIA Forums page from the Support menu.

To post on the Advisor Forums, you will need to log in with your Voting Subscription username and password. If you do not have a Voting Subscription username and password, you will prompted to create them the first time you access the RIA Forums page.

We've also added the following enhancements to Account Management:

• Client Account Templates Optional Steps - When an Advisor or a Broker creates a client account template, the Investment Objectives and Intended Purpose of Trading step is now optional. You can choose to skip individual sections on this page or skip the entire page when creating the template. For more information, see Client Account Templates.
• Dashboard Account Filter Update - On the Dashboard main page, you can filter the list of accounts by Account Status. We've modified the filter drop-down list to include the following statuses: All, Open Accounts, Pending Applications, Closed Accounts, Rejected Applications, Deleted Applications or Open Not Funded.
• Hedge Fund Investor Site Renamed - The Hedge Fund Investor Site, where eligible customers can view and invest in participating Hedge Funds, has been renamed the Hedge Fund Marketplace. Access this Marketplace by clicking Investors' Marketplace > Search Services > Investing > Hedge Funds.

Beginning with this release, Advisors, Brokers and Multiple Hedge Fund Investment Managers view a list of all deleted client account applications. Simply selected Deleted Applications from the Status drop-down on the Dashboard page. Access the Dashboard by clicking Manage Clients > Dashboard.

Brokers can now set markups for IB-issued and Non-IB-issued warrants on the Configure Fees page. Access the Configure Fees page by clicking Manage Clients > Fees > Configure.

Beginning with this release, your active market data and research subscriptions will be terminated if you have not logged into Trader Workstation for 60 days. You can avoid termination by logging in to TWS, or by visiting the Market Data Subscription and Research pages in Account Management and clicking the new Continue Subscription button. Interactive Brokers always notifies you of impending termination of market data and/or research subscriptions.

View all of the rules of market data and research subscription termination here.

Beginning with this release, we've enhanced some features of the Dashboard, which lets Advisors, Brokers and Multiple Hedge Fund Investment Managers quickly and easily access information about their clients from a single point of access, as well as manage many aspects of each client account. Specifically, the following changes have been made:

• Account Status tabs have been replaced by a drop-down filter, which lets you filter the list of client accounts by their account status. You can choose to view all open, pending, closed and rejected accounts by selecting the appropriate status from the Status drop-down.
• The Smart Search field no longer automatically reloads the list of accounts as you type search criteria into the field. Now when you type the search criteria into the field, you click a Go button in tihe field to display the accounts that match your search.

For more information about viewing client account details, see the Account Management Users' Guide.

When you select a Time-in-Force (TIF) as part of entering restrictions on the Trading Restrictions page, you no longer enter a Begin Date and End Date for the GTC (Good-Til-Cancel) TIF selection.

Beginning with this release, Advisors, Brokers and Multiple Hedge Fund Investment Managers can now view Customer Service Messages and Corporate Actions for an individual client or fund account. Once you choose a specific account from the Dashboard, you can view messages for that account on the Messages tab and Corporate Actions on the Corporate Actions tab.

For more information about viewing client account details, see the Account Management Users' Guide.

We now accept applications for Fully Disclosed Broker accounts from Canada. For details about the information Canadian Fully Disclosed Brokers must provide to Interactive Brokers to support their account applications, see the What You Need page on our website. This page is also accessible from the Open Account menu after you select Broker from the SELECT drop-down on our home page.

The Meet with Management Marketplace has been renamed to Corporate Access Provider Marketplace. The Corporate Access Provider Marketplace is available from the Business Development category of our Investors' Marketplace. This Marketplace lets Advisors, Brokers and Hedge Funds search for and connect to Corporate Access Providers, who facilitate meetings, roadshows and conference calls between institutional investors and companies looking for potential investors.

Access the Investors' Marketplace from the Trading menu or the footer section on our website, or from the Investors' Marketplace menu in Account Management.

Hedge Fund Investment Managers with Multiple Fund accounts can now enable or disable trading for their fund and SMA accounts. Access this feature on the Client Trading page by clicking Manage Clients > Trading > Configuration.

Advisors can now charge fees on the current value of the amount that their clients have invested in hedge funds who participate in our Hedge Fund Capital Introduction Program (HFCIP), which is part of our Investors’ Marketplace. If you are an Advisor and you have already invested funds for your client at the Hedge Fund Investor Site (available at the Marketplace), the invested hedge fund will automatically be enabled for the fee program.

For each client who invests in a participating hedge fund, the Advisor can charge fees based on the Annualized Percentage of Net Liquidation Value of the current value of the client's investment in the Fund and/or the percentage of profit and loss of the client's investment in the Fund, as well as configure the fee posting frequency (monthly or quarterly). Advisor clients must approve the fee schedule by signing a form.

For more information, see the Account Management Users' Guide.

We've added the Meet with Management Marketplace to the Business Development category of our Investors' Marketplace. The Meet with Management Marketplace lets Advisors, Brokers and Hedge Funds search for and connect to Corporate Access Providers, who facilitate meetings, roadshows and conference calls between institutional investors and companies looking for potential investors.

Access the Investors' Marketplace from the Trading menu or the footer section on our website, or from the Investors' Marketplace menu in Account Management.

The Dashboard, which provides quick and easy access to information about Advisor, Broker and Hedge Fund client and fund accounts from a single point of access, has been updated with enhanced navigation. Beginning with this release, Advisors, Fully and Non-Disclosed Brokers and Multiple Hedge Fund Investment Managers can select how many accounts to view on a single page - 50, 75 or 100 - and can quickly navigate between pages of client account lists. This feature is especially useful for account structures with a large number of client and/or fund accounts.

For more information about the Dashboard, see the Account Management Users' Guide.

Beginning with this release, Advisors and Fully Disclosed Brokers with multiple accounts for a single family or an individual can group those accounts into a household to more efficiently manage those accounts. Individuals and Advisor and Broker clients can request that their accounts be grouped into a household to reduce the amount of paper mail they receive and to view consolidated reporting and account details in Account Management. The primary user of the household, called the Head of Household, is allowed to view reporting and account information of the other accounts in the household.

Advisors and Fully Disclosed Brokers can create households, add accounts to households, and perform other tasks related to households in Account Management.

Single accounts can household their accounts by submitting a paper form. The Create Household form is located on the Support > Paper Forms page in Account Management.

For more information about households, see the Account Management Users' Guide.

The ability to link your Individual, Joint, Trust and IRA account to an Advisor- or Broker-managed account has been enhanced:

• Individual, Joint, Trust and IRA account holders can link their full account, including all cash and positions, to an Advisor- or Broker-managed account directly from the Investors' Marketplace. Access Advisors and Brokers at the Marketplace by clicking Investors' Marketplace > Search Services > Investing > Advisors or Investors' Marketplace > Search Services > Investing > Brokers in Account Management.
• Individual, Joint, Trust and IRA account holders can now choose whether to move their full account(s) to the Advisor or Broker, or create a new account that will be managed by the Advisor or Broker. If they choose to create a new Advisor- or Broker-managed account, they will retain their existing account, which will be linked to the new Advisor- or Broker-managed account.

To learn more about linking to Advisor- and Broker-managed accounts, see our Account Management Users' Guide.

Beginning with this release, all customers of IB LLC and all IB entities that clear through IB LLC (IB UK, IB Canada) and wish to trade penny stocks must request penny stock trading permissions in Account Management. Penny stocks are defined as any stock whose primary listing exchange is OTCBB, PINK or VALUE.

Before you can trade penny stocks, you must request penny stock trading permission in Account Management: click Manage Account > Trade Configuration > Permissions, select Penny Stocks, and then acknowledge our Penny Stock Disclosure.

Note the following additional guidelines for trading penny stocks:

• You and all trading users in your account must be using two-factor authentication to be eligible to trade penny stocks. This means that you and all trading users in your account must be using either a Secure Login Device or our sDSA security app to log in.
• You must meet the minimum financial and age criteria required to trade equity options in order to qualify to trade penny stocks.
• If you do not have penny stock trading permissions, you will not be allowed to transfer penny stocks into your IB account.
• If you already hold penny stocks and have not yet requested penny stock trading permissions, you will be allowed to close out those positions.

Beginning with this release, you can now request a wire withdrawal of funds from your account to an eligible third party. A third-party withdrawal is a two-step process:

1. Enter third-party information and submit it to us for approval.
2. Upon approval of the payee information, create and submit a third-party withdrawal request using the approved information as the bank information for the withdrawal.

For detailed information about the eligibilty requirements and approval process for third-party withdrawals, refer to the Withdrawals page at the Funding Reference on our website.

For information on to how to request a third-party withdrawal in Account Management, see our Account Management Users' Guide.

Beginning with this release, Advisors, Fully Disclosed Brokers, Non-Disclosed Brokers and Multiple Hedge Fund Investment Managers can now quickly and easily access information about their clients from a single point of access, as well as manage many aspects of each client or fund account.

Previously, you could view lists of all open, pending, closed and rejected client or fund accounts from the Manage Clients > View menu, and view client account details from the View > Summary page in Account Management. This menu structure has been replaced by the Dashboard.

Access the Dashboard from the Manage Clients menu (Manage Funds menu for Hedge Funds) to view information about all of your client and fund accounts:

• View lists of all open, pending, closed and rejected client accounts.
• View pending items for all client accounts on a single screen.
• Fully Disclosed Brokers can also view application and options trading approvals for all accounts in the Approvals column, as well as all pending client applications that are ready to be approved on the Approvals tab if they have enabled Client Approvals.
• View recent activity for the past five days for all client accounts.
• Search for and sort client accounts by account title, account type, account number, username or account alias.
• Download a list of outstanding registration tasks for all pending client accounts to Microsoft Excel.
• Download information about all client accounts to Microsoft Excel.

From the Dashboard, you can drill down to view and manage individual client and fund accounts:

• Drill down to account details, balances, positions and transaction history for any client.
• View pending items.
• Perform account management tasks, including:
• Edit account alias, advisor or broker fees, and other settings;
• Running activity statements and PortfolioAnalyst reports
• Print account details;
• Generate a PDF version of the account application;
• View all registration tasks.
• Fully Disclosed Brokers can also approve or reject pending client applications and pending client options trading permissions if they have enabled Client Approvals.
• Brokers can edit Registered Representatives.
• Advisors can get special authorizations from clients to modify additional account settings for that client.

For more information about the Dashboard, see the Account Management Users' Guide.

Beginning with this release, Brokers can now now link to Administrators at the Investors' Marketplace in Account Management. Administrators are third-party administrators, auditors, accountants or outside legal counsel who provide services institution accounts. Once linked to existing IB accounts, Administrators can these log in once to perform their services for multiple accounts.

Previously, only Financial Advisors, Hedge Funds and Proprietary Trading Groups could link to Administrators.

To learn more about searching for and linking to Administrator accounts, see our Account Management Users' Guide.

Beginning with this release, IB clients can now access the Traders' Library, part of our Investors' Marketplace. The Traders' Library connects you to bookshout.com, where you can search for investing-related books and purchase them at a discount. Simply follow the simple instructions on the bookshout.com website.

In Account Management, access the Traders' Library by clicking Investors' Marketplace > Search Services > Research > Traders' Library. You can also access the Traders' Library from the Investors' Marketplace on our website.

Beginning with this release, Fully Disclosed Brokers who wish to add a Multiple Hedge Fund account to their Broker account structure can now select a semi-electronic or paper application when adding the account. Previously, a Fully Disclosed Broker could only add a Multiple Hedge Fund account using the fully electronic application.

In a semi-electronic application, you complete the application electronically, print out a paper copy for the client to sign, then send the signed application to us for processing. For a paper application, you print a paper application and disclosures forms, give them to your client to complete and sign, then send the completed application to us for processing.

Once added to the Fully Disclosed Broker account, the Multiple Hedge Fund Investment Manager can add Fund or Separately Managed accounts, effectively creating a three-level account structure for the Fully Disclosed Broker.

In Account Management, a fully disclosed broker adds a Multiple Hedge Fund account on the Manage Clients > Accounts > Create > New page.

For more information, refer to the Account Management Users' Guide.

For detailed rules governing these new three-level accounts, see Rules for Three-level Fully Disclosed Broker Accounts.

Beginning with this release, we have added the following new features to Advisor Client Fee configuration:

• Charge Client Commissions to the Advisor Account - On the Manage Clients > Fees > Configure page, Advisors can now choose to charge all commissions for a client account to the Advisor account by clicking the Charge Commissions to Advisor Account check box. Note that if the Advisor Master account balance is below $1000 when the commissions need to be posted, then the commission will be charged to the client account.
• Charge Client Fees to the Advisor Master Account - Advisors can now choose to charge minimum monthly fees and IRA account fees for their clients to their Advisor Master account. Click Manage Clients > Fees > Charge Fees to Master to select this option.
• Advisor Fee Reimbursements - Advisors can now reimburse fees to their client accounts on the Advisor Invoicing page. To do this, click Manage Clients > Fees > Invoicing, and in the Fee Reimbursements section of the page, submit new fee reimbursements, review pending fee reimbursements or view the status of fee reimbursements. Note that new fee reimbursements cannot exceed 50% of the invoice fees charged in the last 12 months.

Customers who participate in our Soft Dollars Program can now request soft dollars disbursements to approved soft dollar vendors from within Account Management.

You request disbursements to soft dollar vendors on the Funding > Soft Dollars Disbursement page in Account Management. Click the new Request Disbursement button for any vendor listed on the page, and then enter details about the disbursement on the form provided, including uploading an electronic invoice from your computer.

Previously, participants in the Soft Dollars Program could not request disbursements in Account Management.

• ATON Position Transfers for Advisor Clients - Advisors can now request ATON (Account Transfer on Notification) position transfers for their clients. ATON is used to transfer US or Canadian stocks, options and cash held at another brokerage firm.
• Additional Features for Non-Disclosed Brokers - Non-Disclosed Brokers can now delete pending client applications. Delete a client application by clicking the Delete Application button on the Manage Clients > Accounts > View > Pending page. Non-Disclosed Brokers can also request all types of position transfers for their clients on the Funding > Position Transfers page.
• Jobs Marketplace Renamed to Careers Marketplace - The Jobs Marketplace, part of our Investors' Marketplace (currently in Beta release), has been renamed to Careers. The Investors' Marketplace > Search Services > Business Development > Careers page lets account holders who are not Advisors, Hedge Funds, Proprietary Trading Group Masters or Brokers search for open positions, and lets Advisors, Hedge Funds, Proprietary Trading Group Masters and Brokers look for individual job-seekers to fill open positions. The Investors' Marketplace > Advertise Services > Business Development > Careers page lets Advisors, Hedge Funds, Proprietary Trading Group Masters or Brokers post open positions, and lets account holders who are not Advisors, Hedge Funds, Proprietary Trading Group Masters and Brokers post their resumes.

The Link Existing Account page in Account Management lets you link multiple IB accounts under a single username and password. We have added the following enhancement to this feature:

• When you link existing accounts, you are presented with an account comparison screen, which displays the individual and financial information for the accounts that are being linked. You can now edit mismatched information directly on this page. Previously, you could only view this mismatched information on this page and had to modify the information separately.

You access the Link Existing Account page by clicking Manage Account > Add or Link Accounts > Link Existing Account in Account Management.

The following updates and enhancements are also available with this release:

• The Language Menu icon has been changed to a globe. The functionality of the Language Menu has not changed; you still use the Language Menu to change the display language in Account Management and the Customer Service Message Center
• Hedge Funds who participate in our Hedge Fund Capital Introduction Program can now invest in other Hedge Funds who participate in the program. Participating Hedge Funds can now access the Hedge Fund Investor Site by clicking Investors' Marketplace > Search Services > Investing > Hedge Fund Investor Site in Account Management.