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apidays LIVE India - Open Broking revolution in India by Raghava BS, Angel Broking

apidays LIVE India 2021 - Connecting 1.3 billion digital innovators
May 20, 2021

Open Broking revolution in India
Raghava BS, Head of Digital Initiatives at Angel Broking

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apidays LIVE India - Open Broking revolution in India by Raghava BS, Angel Broking

  1. 1. www.angelbroking.com Open Broking Revolution in India Raghava-Head Digital Initiatives
  2. 2. 1 3 25 0 5 10 15 20 25 30 2016 2018 2021 No of Brokers providing Open APIs in India * There are 300+ registered Stock Brokers in India Broker Side : • Top 20 Stockbrokers are providing Open API platforms • Currently ready libraries are available in multiple languages like Python, R, java, PHP, GO, C# etc • Increased Retail participation • Technical forums are hosted by Brokers to solve clients connectivity issues and build a community Open API landscape: Customer Side : • Millennial customers are more educated • API based trading has opened new way to trade using coding • Open APIs have created an opportunity for new age Fintech startups to provide unique solutions • Enterprise grade strategies are now available for retail customers
  3. 3. Why are Brokers more Open? Key Drivers for Open API adoption in Broking industry? 1. Facilitates Algorithmic Trading 2. Leverage Fintech Startups Ideas and provide innovative solutions to their customer base 3. Shift in Indian Broking Business Model Algo Trading Fintech Discount Broking Discount Broking Business model: • Indian Broking model is shifting away from traditional plan to discount broking plan • Discount broking model makes money only through intraday trades as delivery trades are free • Algo Trading facilitates more Intraday trades
  4. 4. Decide Buy/Sell Analyze Market Information/ Recommendation Normal Trading: Brokers Mobile/Web Apps
  5. 5. What is Algo Trading: Decide on Tech indicators & Strategy Live Market Data API Historical Data API Code your Strategy Back test your strategy on Historical Data set If Strategy is Profitable Buy/Sell Signal is generated Trading APIs Order get placed real time in Clients A/C Clients need not open their Mobile or Web Applications
  6. 6. Types of APIs used in Algo Trading Trading APIs •Used to execute Orders like Buy, Sell, Cancel •Diff types of Orders: Bracket Order, Cash and carry, Cover order, GTT order •Trade Book •Instruments Historical Price API •Mainly used to back test Algorithms by Algo traders Live Market Feeds API •Mainly used to track stocks prices to decide on entry and exit triggers by Algo traders
  7. 7. Advantages of Algo Trading: No emotional Bias Fast and Robust Fully Automatic Algos are available
  8. 8. Tectonic Shift in Algo Landscape: • Largely Portfolio management service (PMS) industry was using Algo Trading for catering to HNI Clients • PMS Companies used to have SEBI approved OMS systems where they used to develop Algos and sell it to HNI • Was only available to HNIs and Ultra HNIs • OpenAPI platforms by the Brokers have enabled Retail segment to try out Algo Trading • A coder who used to work for Prop Desk can now use those strategies for his own account • Some of these developers have started Fintech startups which provide platforms to Retail segments • Fintech startups use Brokers API layer to carry orders from Customers to Exchange • Strategies which were only available to HNIs are now available to Retail users for a small price Before Open API platforms by Brokers After Open API platforms by Brokers
  9. 9. Fintech Landscape Retail User Codes strategies Integrates with API Codes strategies in MT4/5, Amibroker, Ninja Trader Builds strategy on no code platform Subscribes to Algo in Algo Marketplace API Bridge No Code Platform Algo market place Subscribes to Investment portfolio Auto Investment rebalance platforms Open API layer OMS RMS Broker’s Environment
  10. 10. Win-Win Model for Brokers & Fintechs: Fintech Ecosystem Open API Layer Broker For Retail Clients: • Experience Latest Fintech products • Do more than just App based trading from Broker For Brokers • Leverage innovation from Startups • Profitable partnerships • No data leakage For Fintech Startups: • Tap in to ready customer base of Brokers • Symbiotic relation with broker • Grow quickly Open APIs facilitate a Win-Win Model all entities
  11. 11. Fintech Ecosystem More than 30 Fintech Startups have come up in last 1.5 yrs
  12. 12. Way Forward Customers: • Retail customers will shift towards Algo trading • Algos will be more accessible to retail clients For Brokers • All brokers will have Open API layers • Each broker will have dedicated team to facilitate API based Trading • App Store to accommodate all Startups where customers can discover and use Fintech Apps quickly Fintech Ecosystem: • More innovative Startups • Social Trading • Trend Following/Copy Trading
  13. 13. www.angelbroking.com THANK YOU

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apidays LIVE India 2021 - Connecting 1.3 billion digital innovators May 20, 2021 Open Broking revolution in India Raghava BS, Head of Digital Initiatives at Angel Broking

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