Mutual fund trading integration available through FIS and Fix Flyer

Schwab works with a broad range of third-party providers to help you drive efficiency and scale. Many leading providers—including Moxy, Blaze, Eze Castle, Orion, RedBlack, and Tamarac—use FIX Flyer or FIS to facilitate the routing of trade data using the FIX network. You can now use these third-party systems as your single point of entry for placing both equity and mutual fund trades, instead of managing these trades across multiple systems.

To get started, contact your OMS provider and let them know you would like to establish a FIX connection with FIS or FIX Flyer. To learn more about the benefits of trading integration, visit Schwab Advisor Center®.

January 2019 (0119-8V33)

Protect your clients’ trade data with a secure online option

To help your clients who are enrolled in electronic trade confirmations enhance their accounts’ data security, you can now choose between two delivery preferences for paperless trade confirmations. Choose:

  • “Email” to receive full trade details within the body of the email or
  • “Online” to receive an email that directs clients to log in online to view the trade details.

Currently, clients enrolled receive these notifications via an email containing all relevant details about the trade. The new delivery option reduces the amount of trade information provided through this email, requiring clients to log in to Schwab Alliance to view the complete details of the trade. This option was added to alleviate clients’ privacy concerns about receiving emails with full trade details.

Clients can already change this setting from Schwab Alliance, and now you can make this change on your client’s behalf from the Profiles page. Scroll down to find the Change Delivery Method link, and then select the Online option for the account’s confirmations.

If you have any questions about this functionality, please contact your service team.

December (1218-8FPD)

Portfolio Analysis tool offers instant access to useful comparisons

Now, when you select an account on the Positions, Order Trading, or Trade from Positions tabs, a new Portfolio Analysis option lets you enter a fund name—or even a target dated fund—and use it as a benchmark to generate an instant comparison with the selected master, account, household, or custom group.

This functionality compares the following attributes:

  • Asset Allocations
  • Equity Styles
  • Fixed Income Styles
  • Equity Sectors
  • Fixed Income Sectors

This functionality, which is one of traders’ most frequently requested enhancements, provides timely decision support for trades, and makes it easy to review the impact of recently executed trades on the affected portfolio.

November 2018 (1118-889D)

New Portfolio Analysis feature offers deep insights and decision support

A new Portfolio Analysis link on the Order Entry tab now offers easy access to vital information about any account, including:

  • Asset Allocations
  • Equity Styles
  • Equity Sectors
  • Fixed Income Styles
  • Fixed Income Sectors

This important new feature, which delivers Morningstar data that you can easily access within your standard trading workflows, helps you access the analytics you need to make better trading decisions for your clients. And as soon as trades are executed, you can review their impact on the overall portfolio.

This is the latest enhancement in our ongoing effort to create tools that support your trading workflows, and allow you to trade your way.

July 2018 (0718-8SUV)

Import client positions into a Watch List to easily monitor securities held in portfolios

We recently added a View Positions link on the Trading > Equity, MF, Options > Watch List tab that you can use to import up to 100 positions for any sub-account, custom group (e.g., households), or master account. This new functionality makes it easy to track any changes to existing client positions as you receive pulsing market updates throughout the day.

You can even create a custom view to monitor client positions. For example, you can add security ratings, P/E ratios, and other analytical data.

May 2018 (0518-8EAB)

Our new premier trading and real-time quotes platform

Schwab Advisor StreetSmart Edge® is our new, cloud-based solution for trading and quotes. It has been customized specifically to meet the needs of firms like yours, and fit seamlessly into your existing workflows. The platform offers:

  • Flexibility, with two versions available—quotes only or trading*, to meet your firm's needs
  • Secure, cloud-based access from any operating system or browser, and integration with the web trading platform on Schwab Advisor Center®
  • Customizable news feeds, including live streaming of CNBC TV
  • Enhanced charting and comprehensive research tools
  • Complementary streaming quotes via the Cboe Equities One Feed
  • Premium Level 1 and Level 2 quote feeds from a variety of providers

We encourage you to explore the platform with our illustrated guide. More information on free and premium quote feeds is available in our pricing guide. If you have any additional questions, please contact the trading desk.

March 2018 (0318-8DH6)

*Trading features require a subscription to premium quote feeds. See pricing guide for details.

Cost basis tools help with tax preparation and ongoing cost basis analysis

To help manage cost basis data on your clients’ Schwab accounts and serve your clients better:

  • Recently, we added a “u” field value on the Cost Basis > Unrealized Gain/Loss tab to help identify situations when Schwab received an incoming cost basis report from the transferring custodian but the cost basis is unknown. Now we added a similar “u” field to the Cost Basis > Realized Gain/Loss tab.
  • As a reminder, cost basis data file types are available through Schwab Data Delivery®, providing cost basis information at a master account level. These files, which contain daily unrealized gain/loss information and realized gain/loss information going back two years, even support integration with your portfolio management system and tools for comparing your records with Schwab’s. In addition, third-party providers can access technical specifications for Schwab data downloads to reuse the cost basis data provided in the files we make available.

Questions? Contact Advisor Platform Support at 800-647-5465.

February 2018 (0218-8T9W)

New field value identifies missing cost basis information

Now you can easily see which positions require updated cost basis information at a glance so that you can follow up with the client and collect the needed information.

The new footnote type "Unknown" appears in the Notes column on the Cost Basis tab as a "U," identifying situations where Schwab received an incoming cost basis report from the transferring custodian, but the cost basis is unknown.

This note, like all other cost basis footnotes, will also be visible on your clients' statements.

December 2017 (1217-7ZXJ)

New order type functionality helps you manage risk

The trading tab now supports trailing stop functionality for equity and options buy, sell, and short orders. This feature expands on the functionality of a traditional stop order, allowing traders to capture additional upside for positions while still offering downside protection.

To illustrate this feature, imagine you hold position XYZ that is currently trading at $10, and place a trailing stop sell order with a trailing amount of $1.00, and a Limit Delta of $0.10:

  • If the position drops to $9.00 or below, it will trigger a sell order with a minimum price of $8.90.
  • But if the price goes up to $11.00, the trigger will rise as well. Now, it will trigger if the price drops to $10, and sell for a minimum of $9.90.

If you choose to use this functionality, we recommend you add a new column called “Contingent” to your Order Status view, which will help you track trailing stops once the order is triggered, executed, cancelled, or expired.

There are risks associated with these order types. Please consult Service Guide—Trailing Stops for more information.

November 2017 (0617-7P1Y)

Schwab revised settlement practices on September 5 to meet new T+2 standards

To minimize the market, credit, and liquidity risks that can be incurred between the inception of a trade and its settlement date, the SEC formally mandated that equity, exchange-traded fund, corporate, and municipal bond trades must be settled within two days (T+2), instead of the previous industry standard three-day (T+3) time frame.

Along with the rest of the industry, Schwab revised our settlement practices on September 5, 2017 to meet new industry standards. This change means that sellers will receive proceeds more quickly, while buyers will need to have funds available one day sooner.

If you have any questions, please contact your trading desk.

August 2017 (0817-7KZB)

Client Trade Confirmation Report now available on the Documents tab

If any of your clients have elected to receive the Trade Confirmation Report, you can now view the previous quarter’s edition of that report on the Documents tab.

To protect sensitive client data, you can view the Trade Confirmation Report only if you have access to the associated master account and if all the sub-accounts enrolled in the report are linked to your firm for the entire period covered by the report.

July 2017 (0717-7YVT)

See how Schwab Alliance View Only access can replace paper duplicates

Soon, many firms will receive an alert listing accounts for which non-account holders are authorized to receive duplicate statements on paper.

In many cases, these recipients and their physical addresses may not have not been reviewed regularly. As a result, sensitive client information could be sent based on out-of-date information, posing significant data risk.

We recommend you consider replacing these paper statements with Schwab Alliance View Only access, which offers a more robust and secure option for providing the information that spouses and third-party professionals need. You can enroll accounts in View Only using our secure electronic process, illustrated in the accompanying video.

If you have questions about these accounts, or about initiating View Only access for accounts, please contact your service team.

June 2017 (0617-7P1Y)

Save time creating block trades from orders in the Import Trade Files blotter

Now, you can select similar orders from within the Import Trade Files Blotter to create a block trade for a selected master account. The new block trade replaces the individual client orders that you selected from the blotter.

This feature is applicable only for equities and options. Selected orders must be for different individual accounts whose parameters match exactly. Also, the dividend instructions for individual orders will not be submitted with the resulting block trade.

The choice to automatically submit allocation instructions will be selected by default. You can also choose to export and save the allocation file for the trade.

For those who have used the block trade functionality on the Order Entry page, note that on the Import Trade Files blotter, you must use the control and shift keys to select the orders.

May 2017 (0517-ZKCH)

Combine orders for different client accounts to create a block trade

Now, you can select similar orders from within the Order Entry Blotter to create a block trade for a selected master account. The new block trade replaces the individual client orders that you selected from the blotter.

This feature is only applicable for equities and options. Selected orders must be for different individual accounts whose parameters match exactly. Also, the dividend instructions for individual orders will not be submitted with the resulting block trade.

The option to automatically submit allocation instructions will be selected by default. You can also choose the export and save the allocation file for the trade.

March 2017 (0317-VVV0)

Settled funds that are available for trading now appear on balances and other pages

Now, you can find the settled funds that are available for each account at the top of the master balance page and as a new column for each account. They also appear as a column on the Account Holder and Customer Groups pages and as a line item on the Brokerage Balances page.

The settled funds total consists of incoming cash (such as a deposit or wire) or settled sale proceeds for securities that have been paid in full, and it lets users know the amount of cash available for trading.

January 2017 (0117-SL2V)

Now available: Initiate trading workflows and more from Positions; expanded Fixed Income Trading functionality

We added some of the most requested features to streamline your fixed income trading experience.

  1. New trading functionality
    • You can submit and track the status of bid-wanted requests online when a security doesn’t have sufficient live bids.
    • When your bid is accepted, you can initiate sell orders online.
  2. In-depth pricing information in a variety of places, including:
    • Security Description now includes a best Bid/Ask view and Evaluated Price
    • New Trade History scatterplot graph displays historical prices
    • The new Market Depth tab displays at-a-glance quotes for both buy and sell sides for any fixed income security

October 2016 (1016-MH9X )

Pulsing quotes now available on trading Watch List

Quote data now automatically refreshes every few seconds in the trading Watch List feature. It isn’t necessary to click the "Get Quotes" button, or refresh the page in order to ensure that quotes are updated.

Note that this feature is available for current versions of Chrome, Safari, Firefox and Internet Explorer version 10 or higher.

July 2016 (0616-HDRF)

New enhancements make web trading more customizable

Use our new Web Trading customization features to improve your trading efficiency. The following customization options are now available:

  • Ability to set default preferences for Order Type and Action on the Trading Preferences tab
  • Choice of exporting trades either in the order that they’re displayed on the screen or in the trade file format for later reimport to the platform
  • New "Tear-off Order Status" functionality

And we’ve added additional features, as well:

  • The new Order Type filter
  • A new Morningstar column on the Analyst Rating tab in the Watch List
  • New Sell All allocation method automatically populates the current position when allocating sell orders

July 2016 (0616-HDRF)

Fractional shares now supported in allocations

We’ve implemented one of the most requested features among equity traders.

You can now submit allocation instructions for sell long equity orders that contain fractional shares when submitting block trades under Schwab Trade on the Allocations tab.

Consult the file specifications document for details on importing files with fractional shares in sell long orders into Schwab Trade.

Contact the AS Equity Trading Desk or Technical Client Service Group if you have questions.

February 2016 (1215-B38E)

Fixed income filters help you easily find and sort bonds

We’ve implemented one of the most requested features for fixed income trades.

You can use new Yield-to-Call (YTC) and Yield-to-Worst (YTW) criteria to easily find and sort the right bonds for your clients. To get the most out of these searches, consider using the Callable filter found in the Additional Filters section.

Contact the fixed income trading desk if you have questions about this exciting new feature.

December (1215-ADSZ)

Account number smart search now available in Allocations

  • In an effort to further streamline the allocation of blocked trades, the Web Trading platform now provides smart search results in the Allocation Worksheet when manually entering the account number information.
  • After you enter the client name or the first three digits of the client account number, the platform will display a list of possible matches to choose from.
  • In the Watchlist, you will notice that the height of the display box has been increased to improve the visibility of your symbol lists.

April 2015 (0415-2299)

New trading custom view functionality and more

The newest enhancements to trading functionality include custom view functionality in the Watchlist tab and other frequently requested features:

  • The Order Status tab has been updated—all columns will now be exported as they are displayed, and a new option allows you to select the number of orders you wish to load.
  • When using the Import Multiple Allocations workflow for Prime Brokerage, you can now view and edit the trade details you have imported.

March 2015 (0315-1584)