SAP Sybase IQ for more than a decade has resided with an embedded SQL Anywhere instance. SQL Anywhere handles the grunt tasks of managing connections and the like while IQ does what it does best: be a DATA WAREHOUSE. No, your 4 terabyte database doesn’t make it a data warehouse simply because it is big. A data warehouse is a complete different animal to your DBMS.
If you want to backup the transaction log, you simply need to issue a command:
dbbackup -x -c "uid=dba;eng=myiq;dbn=myiq;pwd=SQL" \ /backups/iqtranlog/myiq.sybtran.dmp
If you need a quick truncation of the transaction log, you omit the file name:
dbbackup -x -c "uid=dba;eng=myiq;dbn=myiq;pwd=SQL"
Please note that you need to use double quotes not single quotes.