Kontrolle der Risikogebühren über das Kontoübersichtsfenster

Das Kontoübersichtsfenster zeigt Ihnen die übergeordneten, allgemeinen Informationen an, die Sie benötigen, um Ihr Konto auf Echtzeit-Basis zu kontrollieren. Dies umfasst die wichtigsten Salden, wie z. B. die Gesamtsummen Ihres Bar- und Aktienkapitals, die Portfolio-Zusammensetzung und Margin-Salden zur Feststellung der Einhaltung der Mindestanforderungen und der verfügbaren Kaufkraft. Das Fenster enthält außerdem Informationen zu den zuletzt berechneten Risikogebühren und eine Prognose für die nächste Gebührenzahlung unter Berücksichtigung der aktuellen Positionen.

So öffnen Sie die Kontoübersicht: 
• Klicken Sie in der klassischen Version der TWS auf das „Konto“-Symbol, oder wählen Sie im Menü „Konto“ den Menüpunkt „Kontoübersicht“ aus (Abbildung 1)
 

Abbildung 1

 

• In der Mosaic-Version der TWS klicken Sie hierzu in der oberen Menüleiste auf „Konto“ und anschließend auf „Kontoübersicht“ (Abbildung 2)

Abbildung 2

 

Wenn Sie das Fenster geöffnet haben, scrollen Sie nach unten bis zum Abschnitt Margin-Anforderungen und klicken auf das „+“ Zeichen oben rechts, um den Abschnitt zu erweitern. Darin werden die Beträge der letzten und erwarteten nächsten Risikogebühr für jede Produktklasse, für die solche Gebühren erhoben werden (z. B. Aktien, Öl), im Detail angezeigt. Bitte beachten Sie, dass der „letzte“ Betrag die Gebühr mit dem Stand vom letzten Berechnungsdatum angibt (Gebühren werden auf Basis der bei Handelsschluss gehaltenen offenen Positionen berechnet und kurz danach in Rechnung gestellt). Der „geschätzte nächste“ Gebührenbetrag stellt die voraussichtliche Gebühr auf Basis des Stands bei Handelsschluss am aktuellen Tag dar, unter Berücksichtigung von Positionsveränderungen seit der vorangegangenen Berechnung (Abbildung 3).

Abbildung 3

 

Um anzupassen, welche Informationen in der Ausgangsansicht angezeigt werden, wenn der Abschnitt minimiert ist, müssen Sie lediglich die Kontrollkästchen neben den entsprechenden Posten markieren. Die markierten Informationen bleiben anschließend jederzeit sichtbar.

 

In Artikel KB2275 erhalten Sie Informationen zur Nutzung des RiskNavigator von IB  für die Verwaltung und Vorabberechnung von Risikogebühren. Informationen zur Verifizierung der Risikogebühren über das Ordervorschaufenster erhalten Sie in Artikel KB2276.

Ordervorschau - Auswirkungen auf Risikogebühren überprüfen

IB stellt Ihnen eine Funktion zur Verfügung, mit der Kontoinhaber überprüfen können, ob und in welchem Maße sich eine Order auf die voraussichtlichen Risikogebühren auswirken würde. Diese Funktion sollte vor der Übermittlung einer Order verwendet werden, damit Sie bereits vorab über die resultierenden Gebühren informiert sind. So haben Sie die Möglichkeit, Änderungen an der Order vorzunehmen, noch bevor Sie diese übermitteln, um ggf. die anfallenden Gebühren zu verringern oder zu aufzuheben.

Sie können diese Funktion aktivieren, indem Sie mit der rechten Maustaste die Orderzeile anklicken. Daraufhin öffnet sich die Ordervorschau. Dieses Fenster enthält einen Link mit der Bezeichnung „Auswirkungen auf Risikogebühren prüfen“ (s. rote Markierung in Abbildung I).

Abbildung I

 

Wenn Sie diesen Link anklicken, wird das Fenster erweitert. Sie sehen nun eine Übersicht über ggf. anfallende Risikogebühren für die aktuellen Positionen, sowie die Veränderung der Gebühr bei Ausführung der angezeigten Order und die Gesamtgebührensumme nach Ausführung der Order (s. rote Markierung in Abbildung II unten). Diese Beträge werden weiter in die jeweiligen Produktklassen aufgeschlüsselt, für die die Gebühren anfallen (z. B. Aktien, Öl). Kontoinhaber können dieses Fenster einfach schließen, ohne die Order zu übermitteln, falls die Auswirkungen auf die Risikogebühren sich als zu groß erweisen.

Abbildung II

 

In Artikel KB2275 erhalten Sie Informationen zur Verwendung des RiskNavigator von IB für die Verwaltung und Vorabberechnung von Risikogebühren. Informationen zur Kontrolle der Gebühren über das Kontoübersichtsfenster erhalten Sie in Artikel KB2344.

Monitoraggio Commissione di esposizione mediante Finestra conto

La Finestra conto fornisce informazioni generali che permettono il monitoraggio del proprio conto in tempo reale. Tali informazioni comprendono i saldi principali quali, per esempio, l'ammontare del capitale proprio e della liquidità, la composizione del portafoglio e i saldi di margine per la verifica della conformità ai requisiti e del potere d'acquisto disponibile.  Da questa schermata si ottengono anche informazioni relative all'ultima commissione di esposizione addebitata e una stima della commissione successiva sulla base delle posizioni esistenti.

È possibile aprire la Finestra conto mediante: 
• la postazione TWS classica, cliccando sull'icona Conto o selezionando Finestra conto dalla voce Conto del menu (Figura 1)
 

Figura 1

 

• la postazione TWS Mosaic, cliccando sulla voce Conto del menu e poi selezionando Finestra conto (Figura 2)

Figura 2

 

Dopo l'apertura della schermata è necessario scorrere verso il basso fino alla voce Requisiti di margine e poi cliccare sul segno + nell'angolo in alto a destra per espandere la sezione.  Le commissioni di esposizione, denominate rispettivamente "ultima" e "prossima attesa", sono ivi dettagliate per ogni categoria di prodotto cui si applicano (es. azioni, petrolio).  Si prega di notare che il saldo indicato alla voce "ultima" rappresenta la commissione aggiornata all'ultima data in cui è stata addebitata (si ricorda che le commissioni sono computerizzate in base alle posizioni in essere alla data di chiusura e addebitate di lì a breve).  Il saldo "prossimo atteso" rappresenta la commissione attesa alla data di chiusura in essere sulla base dell'attività della posizione rispetto al calcolo precedente (Figura 3).

Figura 3

 

In caso di sezione nascosta è possibile modificare la visualizzazione predefinita facendo un segno di spunta nella casellina a fianco di un elemento affinché tale elemento sia sempre visualizzato.

 

Si veda l'articolo KB2275 per informazioni sull'utilizzo di Risk Navigator relative alla gestione e alla stima della Commissione di esposizione e il KB2276 per verificare la Commissione di esposizione attraverso la schermata Anteprima ordine.

Anteprima ordine - Controllo impatto commissione di esposizione

IB permette ai titolari del conto di verificare l'eventuale impatto di un ordine sulla Commissione di esposizione attesa mediante una funzionalità pensata per un utilizzo prima dell'inoltro dell'ordine. Tale funzionalità fornisce un preavviso di commissione grazie al quale è possibile modificare l'ordine prima della sua trasmissione e diminuire o annullare la commissione stessa.

Per attivare questa funzionalità è necessario cliccare con il pulsante destro del mouse sulla riga dell'ordine, dopodiché si aprirà la finestra Anteprima ordine contenente un link denominato "Controllo impatto commissione di esposizione" (si veda il riquadro evidenziato in rosso nella Figura I qui di seguito).

 Figura I

 

Cliccando sul link si aprirà una finestra raffigurante l'eventuale Commissione di esposizione associata alle posizioni esistenti, la variazione della commissione in caso di ordine processato e la commissione totale risultante una volta processato l'ordine (si veda il riquadro evidenziato in rosso nella Figura II qui di seguito).  I saldi sono suddivisi ulteriormente per categoria di prodotto alla quale le commissioni si applicano (es. azioni, petrolio). I titolari del conto possono chiudere la finestra senza inoltrare l'ordine qualora ritengano l'impatto della commissione eccessivo.

Figura II

 

Si veda l'articolo KB2275 per informazioni sull'utilizzo di Risk Navigator relative alla gestione e alla stima della Commissione di esposizione e il KB2344 per il monitoraggio delle commissioni mediante la Finestra conto

Vista previa de orden - Consulte impacto de tarifa de exposición

IB proporciona una función que permite a los titulares de cuenta comprobar qué impacto, si lo hubiere, tendría una orden sobre la Tarifa de Exposición proyectada. La función debería utilizarse antes de enviar la orden, para proporcionar una notificación por adelantado respecto a la tarifa y permitir que se realicen cambios en la orden antes de su envío para minimizar o eliminar la tarifa.

Esta función se activa si hace clic derecho en la línea de orden; se abrirá la ventana Vista Previa de Orden. Esta ventana contiene un enlace llamado "Comprobar el impacto de tarifa de exposición" (vea la casilla destacada en rojo en el ejemplo 1 siguiente).

Ejemplo I

 

Si hace clic en el enlace, se expandirá la ventana y se mostrará la tarifa de exposición, si la hubiere, asociada con las posiciones actuales, el cambio de la tarifa si se ejecutara la orden y la tarifa total resultante al ejecutarse la orden (vea la casilla destacada en rojo en el Ejemplo II siguiente).  Estos saldos se desglosan más aún por clasificación de producto a la cual se aplica la tarifa (por eje. liquidez, crudo). Los titulares de cuenta pueden simplemente cerrar la ventana sin transmitir la orden si consideran que el impacto en la tarifa es excesivo.

Ejemplo II

 

Por favor, consulte el artículo KB2275 para información respecto al uso del Risk Navigator de IB para gestionar y proyectar la tarifa de exposición y el artículo KB2344 para monitorizar tarifas a través de la Ventana de Cuenta.

Exposure Fee Monitoring via Account Window

The Account Window provides the high-level information suitable for monitoring one's account on a real-time basis. This includes key balances such as total equity and cash, the portfolio composition and margin balances for determining compliance with requirements and available buying power.  This window also includes information relating to the most recently assessed exposure fee and a projection of the next fee taking into consideration current positions.

To open the Account Window: 
• From TWS classic workspace, click on the Account icon, or from the Account menu select Account Window (Exhibit 1)
 

Exhibit 1

 

• From TWS Mosaic workspace, click on Account from the menu, and then select Account Window (Exhibit 2)

Exhibit 2

 

After opening the window, scroll down to the Margin Requirements section and click on the + sign in the upper-right hand corner to expand the section.  There, the "Last" and "Estimated Next" exposure fees will be detailed for each of the product classifications to which the fee applies (e.g., Equity, Oil).  Note that the "Last" balance represents the fee as of the date last assessed (note that fees are computed based upon open positions held as of the close of business and assessed shorly thereafter).  The "Estimated Next" balance represents the projected fee as of the current day's close taking into account position activity since the prior calculation (Exhibit 3).

Exhibit 3

 

To set the default view when the section is collapsed, click on the checkbox alongside any line item and those line items will remain displayed at all times.

 

Please see KB2275 for information regarding the use of IB's Risk Navigator for managing and projecting the Exposure Fee and KB2276 for verifying exposure fee through the Order Preview screen.

Order Preview - Check Exposure Fee Impact

IB provides a feature which allows account holders to check what impact, if any, an order will have upon the projected Exposure Fee. The feature is intended to be used prior to submitting the order to provide advance notice as to the fee and allow for changes to be made to the order prior to submission in order to minimize or eliminate the fee.

The feature is enabled by right-clicking on the order line at which point the Order Preview window will open. This window will contain a link titled "Check Exposure Fee Impact" (see red highlighted box in Exhibit I below).

Exhibit I

 

Clicking the link will expand the window and display the Exposure fee, if any, associated with the current positions, the change in the fee were the order to be executed, and the total resultant fee upon order execution (see red highlighted box in Exhibit II below).  These balances are further broken down by the product classification to which the fee applies (e.g. Equity, Oil). Account holders may simply close the window without transmitting the order if the fee impact is determined to be excessive.

Exhibit II

 

Please see KB2275 for information regarding the use of IB's Risk Navigator for managing and projecting the Exposure Fee and KB2344 for monitoring fees through the Account Window

Tools Provided to Monitor and Manage Margin

IB provides a variety of tools and information intended to provide account holders with real-time details as to their state of margin compliance so as to avoid forced liquidations. These include the following:

a.      Account Window – The account window is available for real-time account activity monitoring.  This window will display key values that update with every price change in the portfolio.  Included are account balances (cash, Net Liquidation Value, Equity with Loan Value), margin requirements (current, look ahead, overnight and post expiration), and balances available for trading (Available Funds and Excess Equity).
 
b.      Preview Order/Check Margin – Prior to transmitting an order it can be previewed including the impact upon the margin requirement were the order to be executed. Additional information may be found in KB644.
 
c.       Communications – IB will act to send out communications via TWS bulletin and/or email when the margin cushion in an account reaches 5% and a margin deficiency is therefore approaching. Account holders may also create their own margin alerts based upon the margin cushion which, when triggered, may generate email or text message alerts, TWS pop-up messages, flashing rows and sound alarms.
 
d.      Reports – A Daily Margin Report is made available with Account Management which reflects key margin balances and for portfolio margin accounts, requirements broken down by security class. 
 
In addition, IB provides a Last to Liquidate feature within the TWS Account window that allows customers to specify the positions they would prefer IB liquidate last in the event of a margin deficit. While IB will attempt on a best efforts basis to adhere to such requests, account positions and market conditions may make doing so impractical and IB therefore reserves the right to liquidate in the sequence it deems most optimal.

Trading on margin in an IRA account

IRA accounts, by definition, may not use borrowed funds to purchase securities and must pay for all long stock purchases in full, may not carry short stock positions and may not hold a debit cash balance (in any currency). IRA accounts are eligible to carry futures and option contracts. In addition, IB offers a specific form of IRA account referred to as a “Margin IRA” that allows the account holder to trade with unsettled funds, carry American style option spreads and maintain long balances in multiple currency denominations.

For additional information regarding trading permissions in an IRA account, refer to KB188.
 

How to determine if you are borrowing funds from IB

If the aggregate cash balance in a given account is a debit, or negative, then funds are being borrowed and the loan is subject to interest charges. A loan may still exist, however, even if the aggregate cash balance is a credit, or positive, as a result of balance netting or timing differences. The most common examples of this are as follows:

 
1.       Long vs. Short Currency Balances – accounts holders may borrow cash denominated in one currency if it can be secured by a credit balance in another.  Take, for example, a USD base currency account holding a long USD settled cash balance of 10,000, a short EUR settled cash balance of 5,000, with a EUR.USD exchange rate of 1.38:1. Here, for statement reporting and interest computation purposes, the overall cash balance is a USD credit of 3,088 (10,000 – (5,000 * 1.38)). As each currency is subject to a unique funding and reinvestment arrangement, the short balance would be subject to financing costs based upon its benchmark rate and tier. This cost may be offset by any interest earned on the long balance based upon its benchmark rate and tier.
 
2.       Gross Balances by Segment – IB’s Universal Account contains multiple sub accounts or segments, each of which holds positions and collateral which, for regulatory and customer protection purposes, may not be commingled. This separation does not allow for netting of balances across segments and a credit in one segment may therefore not offset a debit in another. Take, for example, an IB LLC account holding both securities and commodities positions with the securities segment maintaining a debit cash balance of USD 3,000 and the commodities segment a credit cash balance of USD 8,000. While the account holds an overall net credit balance of USD 5,000, the short balance would be subject to an interest charge which may be partially offset by any interest earned on the long balance.
 
3.       Short Sales – a short sale is a margin transaction in which the account holder is borrowing stock rather than cash. While the proceeds from the short sale are credited to the cash balance of the account, these funds must be posted with the lender of the shares as collateral to secure their return. As a result, and in recognition of the fact that the loan transaction is subject to its own financing terms, the cash collateralizing the loan is excluded for the purpose of determining whether a margin loan exists.
 
As example, consider an account reporting net liquidating equity (all balances in USD) of  9,000 comprised of a credit cash balance of 4,000, long stock valued at 10,000 and short stock valued at 5,000. In order to determine whether funds are being borrowed to finance the long stock position, the 5,000 portion of the cash pledged as collateral to the lender of the shares is deducted from the overall 4,000 cash balance, resulting in a 1,000 debit. This debit is subject to interest charges and the cash underlying the stock borrow either an interest charge in the case of hard to borrow shares or a short stock rebate if the shares are easy to borrow and reinvestment rates sufficiently high.
 
4.       Unsettled Funds - borrowings are determined based upon settled funds and the timeframe by which payment is due or received for a given transaction is product specific (e.g., stocks generally settle in 3 business days, spot currencies 2 and derivatives 1). For statement and trading platform purposes, cash balances are reported on a trade date rather than settlement date basis, as if settlement has completed.
 
As a result, an account reporting a credit cash balance may, in fact, still be carrying a margin loan if that balance includes proceeds from the sale of stock purchased with borrowed funds awaiting settlement. Similarly, an account may report a trade date based debit balance, but not yet incurring a margin loan and interest charges, as the trade has not yet settled.
 
For additional information regarding interest calculations, please refer to How Interest is Calculated.
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