Automation has started becoming a part of various products and it has transformed the fintech world drastically. In the trading sector itself, investors and traders have moved from physical form of trading to digitalized journeys. Now, the Indian market is taking a step forward in helping the complete ecosystem to power up themselves with higher degree of automation. IIFL Securities offers its Trading APIs to various stakeholders of the ecosystem including retail traders/investors, franchisees, sub-brokers, algo trading firms, investment advisories (RIA and RA), advisory marketplace, mutual fund products, financial planners, etc.
The idea is to grow with the ecosystem. The idea is to support the innovation in the industry. The idea is to empower each and every stakeholder with the digital infrastructure. And with this idea, role of Trading APIs comes into the picture.
Before discussing more about Trading APIs, let’s first understand why APIs play a significant role. An API provides a simple interface for two applications to communicate. The backend system of almost all the platforms are supported by such APIs. IIFL Securities brings forward the APIs on which its Trading Terminal (TT Web) and mobile application (IIFL Markets App) has been built. IIFL Securities Trading APIs will work as the backend trading infrastructure for any idea and will provide a flexible framework for any web or app based platform. Again, the idea is to help oneself bring innovative ideas, solutions or products without worrying about the backend trading infrastructure.
Now, the question is how can these Trading APIs help someone? To start with, any idea in the trading and fintech sector will involve data on which it will be built. This data can be historical data of market prices for analysing the market (or backtesting in case of algo trading). This data can be your holdings and net position information for analysing health of your portfolio. This data can be your trades and orders details for monitoring the status of orders placed. If the idea involves execution part, then role of APIs for order execution becomes important. Trading APIs are a set of REST APIs which can help the innovator fetch various trading account details for a client and execute trades for the client.
IIFL Securities Trading APIs are known for its following features:
1. Robust: Data accuracy is the most important while working on automating the system. Trading APIs are robust in nature and stays in sync with the TT Web and IIFL Markets App.
2. Fast: In the trading sector, where prices change frequently, the APIs are required to be fast. Trading APIs can provide the fastest response within a millisecond. The average delay in response for these APIs is also less than a millisecond.
3. Free of Cost: To avoid any kind of barrier when it comes to innovation, IIFL Securities offers its Trading APIs completely free of cost to its users.
4. Market Data: IIFL Securities is among the few players in the industry which provides complete live as well as historical data free of cost. It can provide you with past 30 months of data in 1 min, 5 min, 10 min, 15 min, 30 min, 60 min and 1 day interval.
5. Integration Support: In order to make the integration easier for every stakeholder, IIFL Securities provides SDKs in 9 different languages including Python, NodeJS, JAVA, PHP, GoLang, C#, Rust, .Net and JSON collection.
6. Built-in functions for Option Trading Strategies: Python SDK of IIFL Securities Trading APIs provides the users with built-in functions for popular option trading strategies such as Short/Long Straddle, Short/Long Strangle, Put Calendar, Call Calendar, Iron Fly and Iron Condor.
Complete details and documentation for IIFL Securities Trading APIs can be found at https://api.iiflsecurities.com. Try them, test them and if you get what you are looking for, just implement them in your infrastructure with a greater ease.
For any support related to Trading APIs, write to IIFL Securities team at firstname.lastname@example.org.