HMAC Authentication

HMAC, or Hash-based Message Authentication Code, is a method for verifying the integrity and authenticity of a message using a shared secret key. In trading APIs, HMAC is used to sign requests, ensuring that the message was created by an authorized party and has not been altered in transit.

Because the signature depends on both the message content and the secret key, it provides a robust way to prevent tampering and replay attacks. This is essential for high-stakes derivative trading where the order information must be protected from modification.

HMAC authentication is a standard in the industry, providing a reliable and efficient way to secure programmatic interactions between trading systems and exchanges.