|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.
|Executed through TWS
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.