Zerodha, an online brokerage firm, today announced the availability of application programming interface (API) – KITE Connect to financial technology startups. It is a set of REST-like APIs that expose many capabilities required to build complete investment and trading platform.
The company is aiming to simplify the entire broking structure with the help of Kite Connect and providing Broking as a Service to fin-tech startups.
With KITE Connect, we aim to commoditise and democratise investments and attract a new breed of financial technology startups and products that are not nipped in the bud by the aforementioned barriers and red tapes. We are pioneering, perhaps for the first time, the idea of Broking as a Service.
The entire broking infrastructure and end-to-end broking, from the paperwork, account opening and KYC, to stock market connectivity and execution, abstracted into a set of easy to use APIs.
said Kailash Nadh, Chief Technology Officer of Zerodha.
KITE is an ecosystem of pluggable financial technologies that Zerodha is bringing to the market to make investments, trade execution capabilities available to developers where implementations can be as simple as plugging in social media buttons.
Using Kite, the tech-based finance companies can execute orders in real time, manage user portfolio, stream live market data (WebSockets), and more, with the simple HTTP API collection.
According to Zerodha, there is less than 0.1% of the Indian population who actively participates in capital markets. This is a huge opportunity for the developers and the companies to tap the remaining 99.9% market.
It allows active traders to buy and sell financial instruments such as stocks, futures and options, currencies and commodities under a never seen before brokerage-free model in order to deliver the maximum value and benefits to its clients. In addition to KITE, it also offers advanced trading platforms like Pi and intuitive reporting tools like Q and Quant.
In future, Zerodha is also aiming to take KITE Connect to Venture capital investors, IIMs, IITs, engineering students to discuss this opportunity.