Cancel/Modify Order Examples

United States
Product Method Example
Stocks Executed through the API (direct routed) Customer enters 10 API stock orders and cancels all. 6 stock orders are later executed.

10 x $0.01 = $0.10 Cancellation Fee
6 x $0.25 = $1.50 Execution Credit

Since credits are greater than the cancellation fee, nothing is charged.
Europe
Product Method Example
Eurex Futures Executed through TWS
  1. Customer enters an order for 10 contracts, modifies and cancels. No futures orders are executed the rest of the day.

    1 x EUR 0.25 = EUR 0.25 Modification Fee
    1 x EUR 0.25 = EUR 0.25 Cancellation Fee

    EUR .50 in modification/cancellation fees are charged.

  2. Customer enters an order for 10 contracts, modifies the order 5 times and executes.

    5 x EUR 0.25 = EUR 1.25 Modification Fee
    1 x EUR 2.50 = EUR 2.50 Execution Credit

    Since credit is equal to cancellation fee, nothing is charged.

  3. Customer enters an order for 10 contracts in ESTX50 and 10 contracts in DAX. Customer modifies his DAX order and executes the ESTX50 order.

    1 x EUR 0.25 = EUR 0.25 Modification fee (DAX)
    1 x EUR 2.50 = EUR 2.50 Execution credit (ESTX50)

    Since the execution credit only applies in the same product on the same day, EUR 0.50 in modification fees are charged.


Many exchanges charge fees to their members for orders that are cancelled or modified, and IB charges certain related fees to its customers to help cover these exchange fees. Please note however, that the Modify/Cancel fees listed above are not intended to be a direct "pass-through" of exchange fees. The Modify/Cancel fees that IB charges to its customers may be higher or lower than the fees that an exchange may impose on IB. IB may charge Modify/Cancel fees to its customers for orders sent to exchanges that do not impose such fees, or vice versa.

Pursuant to Part 7.8A of the Corporations Act 2001, Interactive Brokers Australia Pty. Ltd. has prepared the following target market determinations relating to certain financial products for which it is deemed to be the issuer. Our Target Market Determinations are located here: Target Market Determinations.

Product Disclosure Statements are also available for each of these products. If applicable, you should carefully consider these Disclosures in deciding whether to acquire, or to continue to hold, the relevant financial product.