Interactive Brokers streamlines order entry for overnight trading in TWS platform

Online trading major Interactive Brokers has updated its TWS platform with a beta build that changes the default Time in Force (TIF) for overnight trading and introduces API improvements. The platform now defaults TIF to OVERNIGHT + DAY when users select the OVERNIGHT exchange or create an order for a contract traded on that exchange. To reflect the new preference, OVERNIGHT + DAY has been moved above OVERNIGHT in the TIF dropdown menu. 

Traders who prefer the previous OVERNIGHT-only setting can opt out via the "Time In Force for Overnight Trading" option under Settings → Orders → Smart Routing Config, or through the "Edit SMART Routing Settings" link in the TIF tooltip. Users can still manually modify TIF on individual orders, and API-generated orders remain unaffected by the change. Additionally, Interactive Brokers has resolved issues affecting Overnight API orders submitted with the Adaptive Limit (Adaptive LMT) order type, improving order handling and reliability for API traders.