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| Tejas Khoday, Cofounder and CEO, FYERS |
MUMBAI, INDIA, MAY 14, 2020 (TGN): Technology focused stock brokerage firm FYERS tied up with the country’s leading data vendor, TrueData to further the agenda of the Indian Algo trading ecosystem. Leveraging this partnership, FYERS will be offering preferred access to Algo trading and reliable data feeds, through integrated trading APIs.
With an uptake on digital businesses during the pandemic, Indian online brokerages are observing a significant increase in their client base and orders. This is the second offering by FYERS after the launch of TradingView Widgets that enhances market data tracking.
The collaboration with True Data, will enable a comprehensive API for FYERS’ retail clients, which will integrate FYERS trading APIs with TrueData’s market data APIs. Used with any programming language, the integrated API will enable traders to create and execute strategies while accessing real time data feed. The integrated API will be critical for the retail trading community who wish to automate their trades and algorithms. To drive functionality, FYERS has also offered an integrated python library which could help developers at the ‘Beginner’ level to get started right away. While the trading API is free of cost, the Datafeed API is offered at a nominal rate.
Commenting on the partnership, Tejas Khoday, Cofounder and CEO, FYERS stated “Having access to accurate real-time data is critical in trading since the smallest time disparity between a quote and the real-time situation can reverse a profit into loss. Many of our API users requested us to bring a better deal, in terms of Datafeed, to our trading APIs. Therefore, we collaborated with TrueData to offer a real time data to our API users, who can create and execute their strategies and even automate trades if required. We have an entirely new backend customized and hosted to serve very low latency Data feeds directly from the NSE & MCX for Indices, Equities, Futures & Options.” ENDS
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