{"id":203269,"date":"2024-03-12T12:39:32","date_gmt":"2024-03-12T16:39:32","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=203269"},"modified":"2024-03-21T10:05:51","modified_gmt":"2024-03-21T14:05:51","slug":"getting-started-with-the-interactive-brokers-native-api","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/ibkr-quant-news\/getting-started-with-the-interactive-brokers-native-api\/","title":{"rendered":"Getting Started with the Interactive Brokers Native API"},"content":{"rendered":"\n

The article “Getting Started with the Interactive Brokers Native API” first appeared on Robot Wealth<\/a> blog.<\/em><\/p>\n\n\n\n

Here at Robot Wealth, we trade with Interactive Brokers (IB) primarily because they offer access to global markets at a reasonable price.<\/p>\n\n\n\n

In recent times, IB has put some time and effort into upping its tech game, including development of an API for interacting with its desktop trading applications.<\/p>\n\n\n\n

An application that interacts with IB\u2019s desktop trading applications via the API is essentially a message-handling program. So I want to show you a simple but effective architecture for managing the flow of messages and the operations they trigger. If you can understand this framework, then you can basically design any application you can think of.<\/p>\n\n\n\n

Before we get to that, I\u2019ll show you how to get started with the IB API \u2013 how it works, how to configure it, and options available for using it.<\/p>\n\n\n\n

Then I\u2019ll show you a Hello World example, and in later articles, I\u2019ll go through some more interesting and complex use cases.<\/p>\n\n\n\n

The IB API is (kind of) different<\/h2>\n\n\n\n

The IB API is essentially a message protocol for communicating with the IB desktop trading platforms \u2013 Trader Workstation (TWS) and Gateway (GW).<\/p>\n\n\n\n

If you think about this in terms of the normal client-server framework, your trading code is essentially the \u201cclient\u201d and TWS is the \u201cserver\u201d, and they communicate using the IB API. TWS acts as an intermediary to IB\u2019s actual servers, and the API provides an interface to TWS.<\/p>\n\n\n\n

The most obvious implication is that you need to have TWS or GW running in order to use the API.<\/p>\n\n\n\n

This means that you also need to deal with restarts.<\/p>\n\n\n\n

Dealing with restarts<\/h3>\n\n\n\n

TWS and GW were designed to be restarted daily (for example to re-download contract definitions where contracts have been changed or new contracts added). However, they have an auto-restart feature that restarts the application daily without user intervention. With this option enabled, the application can run for up to a week without re-authenticating. However, after the nightly server reset on Saturday night (US), you will have to re-authenticate.<\/p>\n\n\n\n

Of course, if you\u2019re trading, you\u2019ll be checking on the platform constantly, but it\u2019s nice not to have to re-authenticate every time it restarts.<\/p>\n\n\n\n

To set that option in TWS, from the File menu, choose Global Configuration:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Then, from the Configuration menu, choose \u201cLock and Exit\u201d. Check the \u201cAuto restart\u201d button, uncheck the \u201cAuto log off\u201d button, and set the time you\u2019d like to have the application restart:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The restart time is in the time zone you have set for TWS. You can see TWS\u2019 current time in the top right hand corner:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

If you need to change the time zone, you\u2019ll need to log out, and from the log in screen choose \u201cMore options\u201d. You can then change your time zone:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Using the IB API<\/h2>\n\n\n\n

You have a few options for working with the IB API. You can either use an existing wrapper such as ib_insync<\/a>, or work with the native API.<\/p>\n\n\n\n

The advantage of something like ib_insync is that all of the \u201cplumbing\u201d code is done for you \u2013 in particular, it\u2019s a fully asynchronous framework which handles messages to and from TWS.<\/p>\n\n\n\n

The native API is a bit more complex to work with, and you\u2019ll have to figure out how to handle messages yourself (async, threading, etc). On the other hand, the native API is officially supported by IB (ib_insync is third-party software, although at the moment is actively maintained), and it removes any limitations on customisation.<\/p>\n\n\n\n

In this series, we\u2019ll use the native API.<\/p>\n\n\n\n

Installing the native IB API<\/h2>\n\n\n\n

The first step is installing the native API.<\/p>\n\n\n\n

Grab the software installer for your operating system from IB\u2019s github pages<\/a>. Run the installer and follow the prompts.<\/p>\n\n\n\n

You\u2019ll also need Python \u2013 Miniconda<\/a> provides a good, minimal installation, but use whatever you normally work with.<\/p>\n\n\n\n

Once the API software is installed, navigate to the installation directory (on Windows, usually C:\\TWS API). Then drill down to the pythonclient directory and run the setup.py file with the install<\/code> parameter:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Once the installation completes, verify that it worked by doing python -m pip show ibapi<\/code> to show the latest installed version:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Configuring TWS to use the API<\/h2>\n\n\n\n

Next we need to configure TWS.<\/p>\n\n\n\n

Enable logging<\/h3>\n\n\n\n

TWS can be configured to write a separate log file that documents communication via the API. This will make debugging a whole lot simpler, so enable it in TWS as follows:<\/p>\n\n\n\n

From the File menu, select \u201cGlobal Configuration\u201d. Then, select \u201cAPI\u201d \u2013> \u201cSettings\u201d and check the box for \u201cCreate API message file\u201d:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

TWS logs are encrypted. To read them, you\u2019ll need to export them from TWS as follows:<\/p>\n\n\n\n

From the Help menu, select \u201cTroubleshooting\u201d \u2013> \u201cDiagnostics\u201d \u2013> \u201cAPI Log Files\u201d:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

You can then select the logs you want to export.<\/p>\n\n\n\n

See here<\/a> for more detailed information about the TWS log files.<\/p>\n\n\n\n

Configuration settings<\/h3>\n\n\n\n

You\u2019ll also need to configure the following settings in TWS:<\/p>\n\n\n\n

From the File menu, select \u201cGlobal Configuration\u201d \u2013> \u201cAPI\u201d \u2013> \u201cSettings\u201d. Then, make the following changes:<\/p>\n\n\n\n