The Options Trading System (OTS) uses an open Application Programming Interface (API). Members program to ISE’s OTS API in order to develop applications that send trading commands and/or queries to, and receive broadcasts and/or transactions from, the trading system. Firms can customize their trading applications to fit their firm’s risk management and order-flow systems.
EAMs and Market Maker members may also develop other applications for any number of specific purposes that interact with ISE’s OTS API; for example, proprietary trading applications or back-office systems can obtain trade information directly from ISE. EAMs may also use ISE’s OTS API to supplement the functionality provided by the PrecISE Trade® workstation.
A number of third-party developers have written customized applications to ISE’s OTS API for use by members. All applications developed to interact with ISE’s OTS API must be certified by ISE. All applications developed to ISE’s OTS API specifications are subject to the approval of and certification by the Exchange.
Programming to the OTS Open Interface
Programming to ISE’s OTS API requires that developers enter into a contractual agreement with ISE. Under the agreement, the developer receives:
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ISE Open Interface Manual: This manual describes how to interact with the OTS open interface and the formats of each transaction, broadcast and query.
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Optional Access to the Member Test System: This network is separate from the production network.
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ISE Demonstration Program: This program provides an example of how each OTS API transaction can be programmed. |