New NSE Requirements for API Usage

The requirement for Strategy ID and other dependencies from exchange are becoming mandatory soon (From Sep 18). After that, No order will be allowed without having a valid strategy ID with each and every Order. This has to be approved by SEBI.

Also, Some new rules and limitations on API being allowed only for big companies are floating around. Not sure to what extent they are true.

Anyone has any updates on the new changes for API usage and other terms and conditions? Any timeline till API will be available?

Any updates from Zerodha on the changes to terms and conditions?
  • dopelord
    AFAIK Zerodha as a broker doesn't offer any algo's. If they do they will have to get this done.
  • kris123
    This is a Mandatory stuff from SEBI.. As a developer, you need to apply for some approvals for each and every order. Looks like its a mess. Any ideas? There is nothing wrong with zerodha. its a requirement from SEBI.
  • rayi
    @kris123 can you post the news/material which talks about this?
  • vvijay
    @kris123 the APIs offered by brokers do not fall under this category as the orders pass through the RMS of the broker. Don't worry. Unless we all want to poke a hornet's nest, this topic is best left un-discussed in forums.
  • kris123
    The implementation of strategy registration is true. Checked SEBI circular too. Not sure we fall under this category. Thanks for your inputs.
  • kris123
    Check SEBI SEBI/HO/CDMRD/DMP/CIR/P/2016/97
  • ramatius
    @kris123 That circular is for NCDEX, not NSE or others. The circular says "The penalty structure will be applicable for only those members who have placed 10,000 orders or more in a day." and it also talks about a limit of 20 trades per second. As long as the trade counts are within these limits, I don't think SEBI will bother.

    I also think that this circular is not applicable for Zerodha, since they only provide the APIs and not Algos. The onus is on the API users to argue their case.
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  • Pavan
    As ar as what i understood that time when news came.. Its for trading servers which are directly connected to NSE... like for HFT and coloated server who is exeuting their algos very nearby..
    if trader sends buying and selling orders(automated) via a broker platform may not be applicable as brokerage irms will have already built with risk management and invalidation cheks of orders which are ubnormal..
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