IKON API

IKON offers two different choices for API connection; the industry standart FIX API and the socket based API:

The FIX API

IKON uses a FIX server with a custom message processor in order to distribute prices and recieve FX trades as well as Spot Bullion Trades. It is a high speed system providing traders 24 hour access to streaming executable prices.

What is FIX? The Financial Information eXchange (FIX) Protocol is a technical specification for electronic communication of financial data that is a globally accepted standard of messaging specifications. For more information and supporting materials on the FIX protocol, please refer to the FPL website, http://www.fixprotocol.org

The main features of FIX API are:

• receive streaming tradable quotes
• send orders
• get executions reports
• cancel and replace working orders
• request for open and closed positions
• request for account values

Supported Order Types are:

• Market Order: An order to buy or sell immediately at the best available price
• Limit Order: An order to buy or sell at a specified target price or better
• Stop Order: An order to buy or sell when the market surpasses a specified price. This order is usually used to stop losses but can also be used as an entry order
• One Cancels the Other (OCO) Order: One limit and one stop order where the fill of one leg cancels the other leg

Socket Based API

The socket based API is a messaging policy system for developing server side communication applications for automatic order execution and streaming price feed. The system does not force developers to use any kind of third party dll or compiled code. Any environment that allows socket connection and send XML messages over it, is able to interact with the eFips servers. So the architecture is independent from the type of the operating system, networking structure, programming language that the client applications are using.

The security aspect of the socket based API is well-designed with its multiple levels :

1- Data transfer over the internet is encrypted via secure shell
2- Critical operations like sending or amending orders are protected with secure key exchange algorithm with client specific initial private keys
3- IP and password limitations are used while communication channels are being established

In this API, for every single message sent from the client to the server, there is a two phase response structure. The client is informed initially by the reach of the message to the server immediately. The result of the operation is sent with the second response message.

Please contact info@ifscl.com for further details.