As a licensed distributor of exchange market data, IBKR is obligated to respect constraints imposed by the exchanges which serve to govern the dissemination and/or retransmission of this data.

As a general rule, within a given account, the real user can activate and maintain its own set of market data subscriptions. The paper user, by design, does not have a set of market data subscription on its own but can be configured in one of the following ways:

• The paper user can be set to share² the live market data subscriptions of the real user:

In this scenario, if the real and paper trading sessions are running simultaneously, they must reside on the same device in order for the paper to receive live market data. If this is not the case, the real trading session will be still afforded the real-time market data but the paper trading session will not receive any data³ . Please see the section CASE 1 below for details.

• The paper user can be set NOT to share² the live market data subscriptions of the real user:

In this scenario, the real and paper trading sessions are independent, in respect of market data flows. Hence, they can run simultaneously on the same or on different devices and the paper user will receive delayed data, as available. Please see the section CASE 1 below for details.

• In case the account possess multiple real users, the paper user can be set to share² the live market data subscriptions of a chosen one.
  

Clients who wish to run real and paper sessions simultaneously and on different devices (e.g., stand-alone PC, smart phone, tablet), may create an additional real user for their account, as explained here: Adding a second user for an individual account holder. While this approach will result in additional fees for any paid market data subscriptions elected, it will allow maintaining different subscription sets. In this scenario, the client will be able to select² which real user will share his subscriptions with the paper user, allowing the other real user and the paper trading sessions to run simultaneously on different devices. Please see the section CASE 2 below for details. 

Example Cases:

Notes

• Trader Workstation (TWS)
• IBKR Mobile
• Web Trader
• Client Portal

3. No Data: On the paper session, the trading platform will display a warning message containing: “...production username associated with this paper-trading username is also running on...”