Interactive Brokers makes new API available for Python programmers

Maria Nikolova

Beginning with release 9.73, a new Python API client is now included.

FinanceFeeds has been updateing its readers on the improvements that Interactive Brokers Group, Inc. (NASDAQ:IBKR) has been introducing to its proprietary Trader Workstation (TWS) platform. Now it is time to take a look at another tech aspect of enhancing the TWS functionality which is targeted at professional developers – the TWS API.

The TWS API is considered to be simple and powerful interface through which the clients of Interactive Brokers can automate their trading strategies, request market data and monitor their account balance and portfolio in real time. The target user base of the TWS API are experienced professional developers that want to enhance the current TWS functionality.

The TWS API works with the TWS platform and the IB Gateway. From the TWS API perspective, the IB TWS platform and IB Gateway are identical: both represent a server to which it can open a socket connection. On the other hand, from the user perspective, the IB Gateway is a lightweight application through which one can only make use of the TWS API. Unlike the TWS’ rich user interface, the IB Gateway does not offer the end user anything else than the very basic features to handle API connections. However, the IB Gateway does not need to be restarted every 24 hours and can therefore be used to run indefinitely.

Starting with release 9.73, a new Python API client is now included. After users install this beta release on their computer, they can find Python API components in the following locations:

  • Python API sample code – located in the samples/Python folder in the API installation directory (typically IB_973);
  • Python source code – located in the source/pythonclient folder in the API installation directory.

Let’s note the importance the launch of native Python API by Interactive Brokers. Until recently, one had to use third-party solutions for the purpose, an approach which always comes with risks.

Python as a programming language has a variety of advantages, such as its simplicity and its wide applicability – it can be used on multiple platforms and systems. Then, there is, of course, the fact that many of the IT giants have shown preference for Python. The list of disadvantages include (unfortunately) that Python is slow.

When comparing various programming languages for its API, Interactive Brokers still highlights Java as the most popular one.

Read this next

Industry News

SEC Chair Gensler pitches for regulation of crypto exchanges; will Ripple benefit?

In what can be perceived to be a big boost for the crypto community, Gary Gensler, the newly appointed chairman of the Securities and Exchange Commission (SEC) has asked the Congress to look into crypto regulation.

Industry News

Baton Systems integrates with LCH for automation of collateral workflow

Baton Systems, a provider of post-trade solutions for financial markets, has announced its integration with LCH, a leading clearing house, for automating the end-to-end collateral workflow for participants in the derivatives markets.

Industry News

CBOE Expands Its European Team with Hiring of Senior VP

CBOE Europe, a pan-European exchange operator and which is a part of CBOE Group based in the US, has expanded its European team with the hiring of Natan Tiefenbrun as its Senior Vice President, Head of European Equities.

Retail FX

London C-level executive market on fire: Tickmill, you’re up

Mukid Chowdhury is now the face of Trading 212. This, however, has left a newly vacant seat. Now, it’s Tickmill’s turn to fight for a Chief Financial Officer. The C-level executive market in London is on fire at the moment.

Industry News

Sapien Capital: FCA fines £170k for allowing Solo Group’s money laundering

The role of Sapien Capital is that it executed purported OTC equity trades to the value of approximately £2.5 billion in Danish equities and £3.8 billion in Belgian equities.

Industry News

MAS invites all fintechs to apply for green tech accelerator

Fintechs should aim to solve at least one of the three key challenges proposed by MAS: (i) Mobilising Capital; (ii) Monitoring Commitment; and (iii) Measuring Impact.

Technology

LSEG tests DCM digitization platform developed with Nivaura

This issuance marks an important milestone in capital markets automation and digitization and demonstrates the potential of such platforms to improve current capital market workflows.

Industry News

Archegos Capital prepares for insolvency proceedings

Archegos Capital, the troubled capital management firm, is preparing for insolvency proceedings as banks that handled its funds are trying to recoup their losses from it.

Inside View

FinanceFeeds announces interview and media opportunities at IFX EXPO

After a tough year for much of the world and the FX industry, Ultimate Fintech has announced the first in-person B2B event of the year – IFX EXPO Dubai.