XML (Extensible Markup Language) is a standard that specifies a syntax that enables you to create your own markup language. It is used to define a set of rules for encoding documents in a format which is both human-readable and machine-readable. It wraps all data in tags that identify what each piece of data represents. As the name suggests, you can define an unlimited number of tags to define the data in the XML document.
XML API is available by both the leading vendors- Symphony and Omnesys.
- Receive market data feed via web socket. All data arrays such as LTP, bid, ask, open, close etc. can be fetch.
- Omnesys XML API allows to access Nest via XML service to start/stop/control strategies. Symphony XML API allows the access and control of Presto Strategy Manager/Agent
- Symphony XML API allows comprehensive order management functions- send orders, retrieve status, modify and cancel via web service
- Omnesys XML API is particularly helpful for broker’s research desk to send automated advisory messages via Nest.
The Symphony XML API uses web-service calls to send the data from the client to the Presto Server. It requires necessary protocol stacks on the client system where this API will be deployed e.g. TCP/IP stack (in absence of a working and wired Ethernet adapter one should install Loop back TCP/IP adapters).
The cost of API depends completely on the broker- from zero to Rs. 10,000 monthly. Brokers may discount the API cost to lure high volume traders.
For general queries on XML API, please post in the comments section. For developer assistance or exchange approval of your custom app, please avail personalized consultancy.