How API Solutions Are Revolutionizing the Trading Market

For a long time, advanced trading software solutions were only accessible to big trading companies, while the small and medium-sized firms had to settle for more rudimentary solutions. This situation was caused by the high costs of IT services. However, from now on, these inequalities between trading firms will become a thing of the past as API solutions are slowly but steadily revolutionizing the trading industry.

1. What are API solutions?

Don’t worry if you are unfamiliar with the term as it has nothing to do with actual trading. API stands for Application Program Interface. It is a set of functions which allow you to create apps which access the data or the features of another application, an operating system or another service. So basically, you can create an interface that gives your clients or your brokers access to all the information that interests them, and you can even create special features so that people can manipulate that data in certain ways. Nowadays, there are several companies that offer Trading API solutions. We prefer ETNA Trader, because they offer highly customizable software solutions.

2. Choose between various RESTful APIs

A RESTful APIs is a type of API that is mainly used to connect and interact with cloud services. REST is the language of the web browsers and the REST APIs are used to break down transactions to create a series of small modules. This means that instead of having a single exchange of information with predefined options, you can choose between a wide range of separate software components to create a trading solution, specifically designed for the needs of your firm. Let’s take for example, the ETNA Trader that we previously mentioned. When working with them, you can use their whole suite, or you can handpick separate components that you may need. The trader is compatible with third party technologies, it has scalable architecture, it is data agnostic, and highly customizable. You can use the widget designer and the REST API to create an interface that satisfies all the needs of your trading firm, and provides your clients with unique trading experiences. It works on a wide range of iOS and Android devices, which are synced in real time with the online trading terminal.

3. Affordable for any trading firm

The best thing about API trading solutions is that they are very affordable, being sold in flexible pay-as-you-go plans aligned with the needs of different sized businesses. A small trading firm, will obviously have smaller data needs, but they can benefit from the same high-quality software solution as a big trading company. As a business grows and their data needs expand, they can upgrade to a more expensive pricing plan, that suits their growing data management needs.