The Open Trading API specification is an initiative driven by the Open Trading API Workgroup (OTAW) to set a standard for accessing web-based financial trading APIs. An increasing number of brokers are creating web-based APIs to allow their clients to access market data, view and submit orders, retrieve their account details and trading history or e.g. receive market indicators. This initiative has a similar set of objectives as those covered by the FIX protocol but is aimed at web-based trading APIs, currently popular with smaller financial institutions, fintech companies and retail clients.

Why a standard for web-based Trading APIs?

An increasing number of fintech companies and startups are developing web and mobile trading applications such as e.g. social trading apps, game-based trading apps, etc. This standard will enable them to interact with brokers which adhere to the standard therefore reducing the need to write bespoke integration solutions.

What’s next?

Further details about this initiative and how get involved will follow soon.