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How TradingScreen APIs are digitally transforming funds for outstanding success
04/12/2019
TradingScreen

How TradingScreen APIs are digitally transforming funds for outstanding success

TradingScreen (TS) financial APIs play a key role in digital transformation. They include a REST API, FIX API, and WebSocket API, and enable you to take advantage of TS's industry-leading all-asset class electronic trading functionality and data. The result is that you can unleash your organization’s development creativity to build new financial applications that appeal to your target audience as differentiating selling propositions.

Your Brief Introduction to TS’s 3 APIs

The REST API includes standard endpoints that are used by a wide variety of web services. The WebSocket API includes standard endpoints that are asynchronous to the REST operations. And the FIX API uses FIX (Financial Information eXchange), a standard protocol for order management.

Users of the FIX API typically have existing software using FIX for order management. Users who are not familiar with FIX should first consider using the REST/WebSocket APIs.

FIX has the disadvantage that many vendor implementations differ in the definition of message formats and requires knowledge of tags and versions. At TS we have focused on removing this friction by auto-converting your FIX messaging format into the required Broker FIX messaging format, and vice-versa.

This brief article focuses on REST and the REST API.

The Multiple Advantages that TradingScreen APIs Provide

At TS, we designed this set of APIs specifically to address numerous issues and bottlenecks that our clients were facing.

They equip your organization to connect your quantitative trading solution to the TS network, to trade across virtually all markets, asset classes, and brokers, in real-time. Additionally, you can build two-way and drop-copy FIX connections into OMS and back-office solutions.

The TS APIs are also designed to assist with managing your risk and compliance rules, staging your positions from proprietary OMS, and publishing and receive IOIs on the TS network.

The REST API explained: Order Flow over REST and WebSocket APIs.

Using the REST API you can create, cancel, slice and allocate the majority of order types, including IOIs, on TS systems (IRS and CDS support will be live early 2020). Once in TS systems, you can automatically or manually stage orders for execution and carry out amendments at various times before final execution.

The compliance engines built into TS workflows allow you to define your own risk/compliance rules and limits for trading, with any violations being reported over the WebSocket order flow.

The order flow over WebSocket reports on any order state changes that the user logged in is entitled to view, including all violations which can then be actioned. The violations received over WebSocket can be piped directly into your own compliance function, enabling automatic authorization or rejection according to your own rules.

Execution flow over WebSocket

The execution flow over WebSocket reports on all executions flowing through TS that the user logged in is entitled to see.

Market data over REST and WebSocket

Using the WebSocket connection streaming ticks per instrument can be delivered to your solutions, and using the request endpoint historical tick data can be queried.

Why Choose the TS REST API?

With the powerful capabilities of the endpoints outlined in this article, it becomes very easy for a third-party developer to separate the front, middle and compliance functions, and design custom pre-trade and post-trade analytics with TS’s REST API. Most emerging funds have a limited development capability. With this front of mind, we have designed these functions so that they can be written totally independently, in any language.

If you want a different type of workflow, we operate in a fully agile manner. Turnaround for such a request is typically the same-day depending on complexity, and we can implement any new requirements in a matter of days or weeks depending on the requirement.

Client REST APIs are an open scalable architecture local to the user and we operate data centres worldwide allowing for reduced latency. Lastly at TradingScreen, we operate a full support model 24 hours a day, six days a week.

Learn more about our APIs here

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