OpenAPI s and the new financial infrastructure CFIR Finance IT Day, Sept. 2015

Transcription

1 OpenAPI s and the new financial infrastructure CFIR Finance IT Day, Sept Benny Boye Johansen, [email protected] Senior Director, Enterprise Architect September 17, 2015

2 Saxo Bank Facts EMPLOYEES >1300 NATIONALITIES 59 SPOKEN LANGUAGES IN THE BANK 40 OFFICES 25 countries NO. OF FX TRADES PER DAY 170,000 MAX NO TRADES/SECOND >1200 DAILY AVERAGE TURNOVER 100 billion DKK NO. OF COUNTRIES WITH RETAIL CLIENTS 190 SAXOTRADER LANGUAGES 25 GROSS PROFIT <15 øre per 1,000 DKK traded FINANCIAL INSTRUMENTS more than 30,000 RECEIVED PRICES PER DAY 5-6 billion 2

3 Facilitation is at the core of Saxo Bank s business model PROVIDER OF PRICES AND PRODUCTS 12 Large International Banks 50 Exchanges NASDAQ, NYSE, OMX, LSE, GLOBEX, EUREX, ETC. 25 Other Trading Facilities CHI-X, TURQUOISE, ETC. SAXO BANK S ONLINE TRADING PLATFORM SAXO BANK CLIENTS Private White Label Clients BANKS, BROKERAGES, ETC. USING SAXO BANK S TRADING PLATFORM Institutions/Corporates ASSET MANAGERS, FINANCIAL ADVISORS, INTRODUCING BROKERS 3

4 The Case for a Unified Modern API in Saxo Bank 1. FASTER Faster Time To Market: 1. Devs. are more effective when API is solid and well documented rd party devs. and companies can be on-boarded faster rd parties can be hired to make completely separate custom apps. 2. BROADER More applications, more value for Saxo Bank clients: 1. WLC s can seamlessly embed Saxo functionality in their own portals. 2. Niche companies and semi-pros can develop targeted applications. 3. Advanced traders can use MathLab/R/StatPro for algo trading. 4. Established trading platforms and data portal vendors may now hook up to Saxo Bank. 3. CHEAPER One interface instead 2: 1. Replacing several front end servers, front end protocols and duplicated logic. Faster to develop, easier to test and maintain. 4

5 Saxo Bank s Open API Project Charter SSO Login Svr: - Login - Consent IdP - SAML - Oauth 2.0 STS 1: Login & get OpenApi token 2: Call OpenAPI (OpenAPI token) Also native apps: - C++ UI - iphone - Android - SmartWatch - SmartTV Also Server 2 Server! OpenAPI exposes enough data and functionality that you can build a complete trading platform from scratch. OpenAPI uses REST, JSON and WebSockets with graceful fallback to long-polling. SAML2 + Oauth 2.0 for access control. Can be used by web and native applications. We will eat our own dog food!* Open API Root: -Session -Batch Reference Data: -Instruments -Exchanges -Languages Portfolio: - Accounts - Positions - Orders Performance: - Returns - Perf. Stats - Hist. Positions Trade: - Quotes - Orders - Trades Value Added: - Price Alerts Charts: - (Chart) Saxo Bank Application Servers * Google vs. Amazon Rant : 5

6 6 Lets take a closer look

7 7 The external OpenAPI is only the tip of the iceberg!

8 Creating new API s is now the default choice.. Root(8) Reference Data (17) Portfolio (43) Trade (23) ValueAdded (11) Client Services (3) Chart (0/7) Historical Perform.(0/15) Corp. Actions (0/9) AutoTrading (0/10) Client Management (0/5) 8

9 Creating new API s is now the default choice.. Root(8/26) Reference Data (17/21) Portfolio (43/62) Trade (23/25) ValueAdded (11/35) Client Services (3/85) Chart (0/7) Historical Perform.(0/15) Corp. Actions (0/9) AutoTrading (0/10) Client Management (0/5) * (x,y) = public/internal endpoints. 9

10 10 API s and internal FedEx Days promote innovation

11 Products At Saxo, OpenAPI is just part of the bigger Open Bank vision. Open Multi-asset Rich Complete Open API Banks and Brokers Portal Apps Scripts Fund Managers Unparalleled suite of capital markets products listed and PTC FX (Spot, Forwards, Vanilla and Binary Options CFDs (Single Stock, Stock Indices and Commodities) Private Banks Stocks, Futures, Fixed Income, EFTs Stock Options and Contract Options FRONT END Family Offices Professional traders and Money Managers Distribution to the Market place Sell side - Direct/Prime (FIX In) Corporates Aggregating Liquidity from the global financial Market Place Retail Traders and Investors Award-winning trading platforms Back-office & risk management Portfolio management, reporting & monitoring Client administration and service Investment banks Brokerage firms Exchanges API based trading Liquidity access OMS/EMS integration Tools /services EOD Files Data for Reporting Analytics Bookkeeping Drop copy TENS Notifications real-time Trades Orders Margin calls Open API BUYSIDE STP/Backflow (FIX Out) Liquidity Liquidity provisioning into platform Backflow and routing of flow out the platform Administration Users Cash Onboarding Reports 11

12 12 Are we (too far) ahead of the curve, are you?

13 Thank you Open API s will benefit both your IT development and Business development. Make sure to formulate a charter which appeal to both. In Saxo Bank we have taken an API First approach. We think that in the long term term Platforms scale better than Products. Open API s promote collaboration and innovation within the company, throughout the extended value chain. Thanks for listening.. Benny Boye Johansen [email protected] Check out the Beta@ 13