API to query tick size

[ScottMcNab]

For those on the forum who speak computer…I was asking IB if there was a way to determine the tick size for London (and other European/Euronext stocks) so that order placed by the API is not rejected…response below:

Each exchange would have a market rule which determines what the require price increment at each price point is from that exchange. When you invoke reqContractDetai ls() via the API we will relay back the market rule Id via the eWrapper contractDetails. You can then use the market rule id to invoke reqMarketRule() which will then return the minimum price increment value via the eWrapper marketRule. Please refer to the corresponding URLs below details:

reContractDetail s(): LINK../contract_details.html reqMarketRule(): LINK../minimum_increment.html

https://interactivebrokers.github.io/tws-api/contract_details.html

https://interactivebrokers.github.io/tws-api/minimum_increment.html

Regards,
Angel P
Senior Specialist, Technical Assistance Center
Interactive Brokers

[ScottMcNab]

Not sure if possible but would be great if the API could, by default, query every order before it was placed ? That way if new stock goes into Tick pilot program in US or want to trade another market the API would perform a check (and modify/reduce/increase buy limit price) to correct before order sent to TWS

Maybe something developer could consider for new versions ?

[Nick Radge]

Will be ready in a few days after some testing.

[ScottMcNab]

Fantastic news Nick.

[ScottMcNab]

Getting greedy now but I wonder if the response IB sends to the API query would include all contract info such that lot size would be checked as well as tick size ?

Edit: only SEHK has that issue now that think about it so may not be worth hassle

[Nick Radge]

The update is ready and published.

The upgrade includes only checking for tick size and adjusting the limit price accordingly. There is the option to disable it.

Regarding the minimum LOT size it is feature of IB API 973 which is still in BETA so we’ll await proper release.

The process takes few seconds so you will notice a delay between the time you press send button and the orders to be placed in TWS.

[ScottMcNab]

Fantastic…thanks Nick

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