BSE had introduced Webservices based APIs for trading in the Mutual Fund segment in 2015. The new Web Trading API works through the members existing internet connection for connectivity to the Exchange, It does not require special infrastructure e.g. Leased Line for exchange connectivity.
Unlike IML which is purely a Order Entry Platform, The Web based API services in addition to the services provided by the IML APIs also provides additional services like Payment Gateway, Special Products, Document & Image Upload/Download, Reports, 2FA etc for across Websites, Desktop and Mobile Apps
Support for IML had been kept for legacy purposes only and all new developments have been provided through Web APIs.
This arrangement was done to provide enough time for members to migrate to Web APIs. We have continued the IML so that there are minimal changes in the member developed applications on migration to the new Web API trading system.
Over the last 8 years, Exchange has been recommending all members to move to Web API. Many of them have already moved to Web API while a small set of members are still using IML.
The Exchange now proposes to discontinue this stop gap arrangement and support Web APIs as the only protocol for interactive communication.
The Web API protocol has several advantages over IML. Below are the few major advantages:
1. The Web API uses SOAP/ JSON /REST protocols which are language independent and can be developed in any modern web programming language.
2. There is no exchange software required to be installed at member side. The member developed application connects to exchange directly.
3. The IML is a windows operating system specific software and it does not run on other operating systems. Thus, an additional windows box is always required for IML which is eliminated in case of Web API.
4. Web APIs provides additional functional features along with scalability which is not available in IML.
The latest Web API document is available at www.bsestarmf.in under File Structures > API File Structures.
In case of any queries, MFIs/MFDs may get in touch with the following official:
|
Name of the Official
|
Email ID
|
Contact no
|
|
Mr. Navaneetha Krishnan
|
starmf.techsupport@bseindia.com
|
022-22728933
|
|
Ms. Aqsa Shaikh
|
022-22728396
|
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds |