Exchange provides a trading front end ‘TWS™ (Trader Workstation) for trading to members of the Exchange. Exchange also allows members to expand their trading facility using API (Application Program Interface). API consists of a set of data structures that allow member to develop his own software to connect and transact with the Exchange. This facility is called Computer-to-Computer Link (CTCL) facility and is available only to trading members of the Exchange.
Members can use their own software customized to meet their specialized needs like provision of on-line trade analysis, risk management tools, integration of back-office operations etc. A member using CTCL can have complete control on the trading operations and provide an effective and efficient service to all its local and remote clients. Alternately, the members can procure the CTCL software from the vendors empanelled with the Exchange.
For developing the CTCL software in-house, member has to procure an API document from the Exchange. This document describes the protocol to be used for CTCL software to communicate with the Exchange’s Trading System and thus serves as a development guide for the users.
The CTCL setup is managed by the member. This would include procurement of application software, hardware, setting up network etc.
Exchange provides two types of APIs for developing trading solutions:
Categories of CTCL Products
The Exchange has made available CTCL / Internet based trading (IBT) / Wireless Trading (WT) Facility / Algorithm Trading Facility (ATF) to the Trading Members, subject to such terms and conditions as specified by the Exchange from time to time. Trading member willing to avail of CTCL / IBT / WT / ATF or any other trading facility provided by the Exchange from time to time, shall execute an undertaking in favour of Exchange in the format prescribed by Exchange and agree to abide by any modifications / additions effected by the Exchange from time to time.
Note: - Undertaking submission is applicable for members who avail CTCL/IBT/WT/ATF for the first time. Subsequently member is required to submit only documentation as mentioned in the applicable circulars.