The ultimate guide to CoinAPI’s EMS Trading API

Back in 2015, Arthur Pietrzyk, the Founder, and CEO of CoinAPI, created a unique tool known as the Market Data API initially intended for his own use. It didn’t take long for him to realize that his invention filled a significant gap in the rapidly evolving cryptocurrency market. Seeing the potential, he made a strategic decision to release the Market Data API to the public. This move paid off in a big way as today, CoinAPI can proudly claim a user base of over 3,000 active clients. And we aren’t stopping there – we’re thrilled to unveil our latest innovation, the EMS Trading API. 

Table of contents: 

1. Understanding APIs and their importance in trading
2. What is EMS Trading API?
3. Key Features of EMS Trading API
4. Two sales models: managed cloud and self-hosted
5. Why Choose EMS API? 
6. What types of businesses use EMS Trading API?
7. Getting Started
8. Conclusion

Understanding APIs and their importance in trading

APIs serve as critical behind-the-scenes operators in cryptocurrency markets. They’re indispensable for collecting data or executing trades with exchanges. They empower businesses to access a wide array of resources and real-time crypto data, instrumental in developing trading bots, conducting academic research on cryptocurrency, or learning to code with crypto data.

From monitoring market prices and wallet contents to executing and receiving transactions, cryptocurrency APIs make it all possible. As the cryptocurrency ecosystem matures, market players anticipate an ever-increasing range of features. We’re now witnessing the gradual integration of the cryptocurrency market into the fabric of traditional financial markets.

This evolution has given rise to essential new products and services for crypto operations, with the trading API standing as a pivotal development.

Our guide serves everyone from crypto wallet creators to digital banks, market data applications to gaming platforms, and crypto exchanges to tax and accounting services. We’ve meticulously curated this guide to arm you with all the information you need to maximize the benefits of our new EMS Trading API. Our mission is to equip you with the tools to revolutionize your cryptocurrency experience, whether in trading, investing, or portfolio management.

But before we delve deeper, let’s cover some basics. 

What is EMS Trading API? 

What exactly is trading API and who might benefit from it? In a nutshell, EMS Trading API allows you to hook up to multiple crypto exchanges through a single account. Customers can centralize their API order routing process and get the best pricing across exchanges. Trading API allows one to interact with the trading system or, more specifically, to conduct transactions directly on the cryptocurrency exchange. This is particularly useful for traders who use algorithmic models in their trading systems, as they require real-time price updates as well as the ability to execute transactions (manually or automatically) as soon as their model generates a corresponding signal. 

Trading APIs have become an essential part of the toolkit of professional cryptocurrency traders, and their appearance reflects the ecosystem’s evolution. With EMS Trading API, traders can send and receive trade orders, manage their portfolios, and access real-time market data.

Now EMS Trading API is available on CoinAPI! 

Key Features of EMS Trading API

Our new API is packed with features designed with you, the developer, in mind. Notable highlights include:

Connect to multiple exchanges at once 

The EMS API permits access to multiple crypto exchanges through a single account, allowing for centralized API order routing and optimal pricing. You can manage as many accounts as needed from a selection of over 45 exchanges.

The ecosystem of APIs dedicated to all use cases 

CoinAPI offers a whole ecosystem of APIs dedicated to all use cases. We provide market data, trading features, and low-frequency data that most other providers don’t have. By integrating with us, you benefit from a wide range of features that other vendors can’t offer.

Real-time market data

EMS Trading API provides traders access to real-time market data, including market depth, bid/ask spreads, and other critical trading information. This data helps you make informed trading decisions and stay ahead of market trends. You can also access historical data for backtesting or conducting analyses.

Order management

With EMS Trading API, you can easily manage your orders. This includes placing and canceling orders, modifying order parameters, and monitoring order status in real time. This feature is especially useful for executing trades quickly and efficiently.

Algorithmic trading

EMS Trading API supports algorithmic trading, which allows traders to automate their trading strategies and execute trades based on predefined rules and criteria. Algorithmic trading can help traders execute trades more efficiently and effectively while minimizing the risk of human error.

Risk management

EMS Trading API offers robust risk management tools that enable traders to monitor their risk exposure and manage their positions effectively. Traders can set risk limits, monitor margin requirements, and implement other risk management strategies to minimize the risk of losses. 

By leveraging the features and tools of EMS Trading API, traders can gain a competitive edge in the market and improve their trading performance.

Normalized API Abstraction

EMS API provides a unified layer for third-party API integration. It standardizes exchanges and assets using the Market Data REST API, making integration easier and more efficient. 

Security & Privacy

The EMS Trading API prioritizes security and privacy. Order flow, exchange API keys, and execution reports remain within your company’s infrastructure, ensuring the confidentiality of your trading activities. The API is compliant with “SOC 2” and “ISO/IEC 27001” information security certifications.

Access unified crypto markets with one account 

Best-in-class global multi-asset coverage and connectivity. Manage an unlimited number of exchange accounts within the EMS cluster. Designed to exceed large institutions’ performance, reliability, and security requirements. Market data from the past – Use our dependable order book-level price and trade data for the most popular exchanges and currency pairs to backtest or conduct other analyses.

Sub-Millisecond Accuracy

The EMS Trading API ensures sub-millisecond accuracy in digital asset exchanges. With fast and precise order execution, users can take advantage of price movements and execute trades with minimal delay.

Multi-Exchange Operations Made Easy

Onboarding with various crypto exchanges can be time-consuming and expensive due to different API requirements. However, the EMS Trading API simplifies multi-exchange operations by providing a single API for all exchanges. Users can enjoy the convenience of trading on multiple exchanges through a unified and user-friendly interface.

Best-in-Class Latencies

The EMS Trading API offers best-in-class latencies to ensure smooth and efficient trading. With low latencies, users can enjoy faster order execution and better trading experiences.

Robust Protocol Support

Another powerful feature of the EMS API is its diverse protocol support. Most exchanges offer 1-2 protocols, but we provide three—REST, WebSocket, and FIX. This ensures compatibility and seamless functionality regardless of the exchange’s protocols.

Fully Managed and Secure Network Connections

The EMS Trading API provides fully managed and secure network connections with high-speed connectivity designed for price discovery. Users can trade with confidence, knowing that their transactions are conducted over a secure network.

 

Eliminate liquidity problem

The EMS Trading API provides a solution to liquidity problems by offering access to multiple exchanges with a single account. This eliminates the need for onboarding with each crypto exchange, saving time and reducing costs. With unified access, users can easily trade on different exchanges without worrying about liquidity constraints.

Market Data from the Past

Users can access dependable order book-level price and trade data for the most popular exchanges and currency pairs. This allows users to conduct backtesting and perform other analyses to make informed trading decisions.

Technologically Advanced and Stable Software

The EMS Trading API is built on technologically advanced and stable software. With a user-friendly interface, users can easily navigate the platform and execute trades seamlessly.

Enterprise-Grade Support and Maintenance

CoinAPI provides full support and maintenance for the EMS Trading API. This allows your team to focus on core business operations while ensuring a smooth and reliable trading experience.

P&L and Asset Monitoring

Real-time exposure and position management across supported order destinations are provided, along with sophisticated risk management controls. This enables users to monitor their profit and loss (P&L) and assets in real time, ensuring effective risk management. 

Two sales models: managed cloud and self-hosted

For customers who value privacy, we have a self-hosted option – we then do not see the transaction.

When it comes to using CoinAPI’s EMS API, customers have the option to choose between two sales models: managed cloud and self-hosted. Each model offers unique benefits and caters to different customer preferences. In this blog post, we will explore the features and advantages of both sales models to help you make an informed decision.

Managed Cloud

CoinAPI’s managed cloud sales model provides a hassle-free and convenient experience for customers. Here are the key features of the managed cloud model:

– CoinAPI manages the infrastructure and monitoring: With the managed cloud, you can rely on CoinAPI to handle all infrastructure management and monitoring aspects. This frees you from the burden of maintaining and managing the underlying technology.

– Easy installation and setup using the REST API: CoinAPI’s managed cloud model offers a seamless installation process through a user-friendly REST API. Getting started is quick and straightforward, allowing you to integrate the EMS API into your trading workflow with ease.

– Fast time to market for integration projects: By leveraging CoinAPI’s managed cloud model, you can expedite your integration projects and bring your trading strategies to market swiftly. The streamlined setup process ensures a smooth and efficient implementation.

– No requirement for a DevOps team to maintain the software: With the managed cloud model, you can eliminate the need for a dedicated DevOps team to maintain the EMS API software. CoinAPI handles software updates and maintenance, allowing you to focus on your trading strategies.

– Order flow is not sent directly to the destination: In the managed cloud model, CoinAPI acts as an intermediary between your trading activities and the destination. This provides an additional layer of security and ensures that CoinAPI remains involved in the transaction process.

Self-Hosted

For customers who prioritize privacy and want full control over their trading activities, CoinAPI offers a self-hosted sales model. Here are the key features of the self-hosted model:

– CoinAPI provides the software while you manage the infrastructure: With the self-hosted model, CoinAPI delivers the EMS API software, and you take charge of managing the underlying infrastructure. This allows you to maintain complete control over your trading environment.

– Installation instructions provided for deployment on your infrastructure: CoinAPI offers comprehensive installation instructions to facilitate the deployment of the EMS API software on your infrastructure. These instructions guide you through the setup process, ensuring a smooth implementation.

– More complex setup with a slower time to market: Compared to the managed cloud model, the self-hosted model requires more involvement and effort in terms of setup. This may result in a slower time to market for your integration projects.

– Requires a DevOps team for maintenance: With the self-hosted model, you will need a dedicated DevOps team to manage and maintain the EMS API software. This ensures that your trading environment remains optimized and up-to-date.

– Order flow is sent directly to the destination: In the self-hosted model, CoinAPI enables direct order flow between your trading activities and the destination. This offers a level of control and optimization over latency that may be preferred by experienced traders.

Both the managed cloud and self-hosted sales models for CoinAPI’s EMS API offer distinct advantages. The managed cloud model provides a hassle-free and convenient experience, with CoinAPI managing the infrastructure and monitoring. On the other hand, the self-hosted model offers full control and privacy, allowing you to manage the infrastructure and optimize latency.

Consider your specific requirements, level of control desired, and resources available when choosing between the two sales models. Whether you prioritize ease of use or complete autonomy, CoinAPI’s EMS API has a sales model that caters to your needs.

Why Choose EMS API? 

EMS API can support an unlimited number of accounts in one place. In traditional trading, each account requires resources/infrastructure, because each account requires a connection to the exchange. With EMS API we not only integrate a lot of exchanges but also the user can have a lot of accounts on the exchanges. This offer is definitely attractive for companies that handle multiple transactions and don’t have to worry about API implementation. They get a ready-made product and don’t have to employ people and build such a solution from scratch. The most important – they don’t spend the time to switch between accounts, and that counts a lot when trading on crypto exchanges. 

– Low latency: We promise high-quality service with minimum delay. Creating a similar product would require significant investment in terms of time and resources.

– Standardization: We deliver a standardized API abstraction layer in three different protocols, eliminating the need for customers to understand and integrate with each exchange interface.

– Protocol Versatility: Unlike other platforms, we offer all major protocols—REST, FIX, and WebSocket—and ensure full functionality for all.

– Flexible Trading Management: We provide two options for trading management—self-hosted or managed cloud—to accommodate security and privacy needs.

– Unlimited Account Support: Our API can handle an unlimited number of accounts, offering an excellent solution for small companies and saving them the trouble of handling API implementation.

– Full Functionality: We aim to support all functionalities provided by each exchange, even non-standard ones.

– Reliable Support & Maintenance: Our dedicated support team ensures continuous performance. Should any issues arise, we’re always on hand to help.

– Server Redundancy: We provide a secure and stable platform with high server redundancy to prevent any disruptions to your trading operations.

In conclusion, EMS API offers an unprecedented solution for crypto traders—simplifying trading operations, boosting efficiency, and saving valuable time. Make the smart choice today and transform your trading experience.

Exploring the Varieties of EMS Trading API

The EMS Trading API caters to a broad spectrum of trading requirements by offering several variants, each with its unique set of features and functionalities. The primary three types are:

REST API

Representational State Transfer or REST API is a well-regarded, web-based interface that allows traders to access EMS Trading services through HTTP requests. Famed for its user-friendly approach, REST API offers an uncomplicated and straightforward interaction platform that resonates with traders seeking simplicity in their operations.

FIX API

The Financial Information eXchange, or FIX API, is an esteemed messaging protocol ubiquitously utilized in the finance industry for the electronic communication of trade-related information. With its superior, low-latency, and high-throughput trading capabilities, FIX API is a favorite among institutional traders, catering to their need for speed and performance.

WebSocket API

The WebSocket API is a two-way, real-time communication protocol that gifts traders the ability to receive instantaneous market data updates and execute trades on-the-fly. It is an ideal choice for high-frequency traders and those focusing on real-time market data analysis, enabling them to remain a step ahead in the fast-paced trading world.

The EMS Trading API empowers traders by offering them the flexibility to select the type that best suits their trading needs and preferences. While some may be drawn to the straightforwardness of the REST API, others may opt for the low-latency, high-throughput capabilities of the FIX API. Meanwhile, the WebSocket API is the go-to for traders requiring real-time market data and rapid trade execution.

In a nutshell, regardless of your trading style or needs, EMS Trading API has you covered with its diverse and efficient trading solutions.

 

What types of businesses use EMS Trading API?

The EMS Trading API is a powerful tool not just for individual traders, but also for a variety of businesses within the financial ecosystem. Here’s a look at some of the key types of businesses that can significantly benefit from the EMS Trading API:

Investors: Both institutional and individual investors use the EMS Trading API to facilitate and streamline their trading operations. By automating trade execution and providing real-time market data, our API helps investors make timely, well-informed investment decisions.

Prime Brokers: Prime brokers, acting as intermediaries between investors and the market, leverage EMS Trading API to manage multiple accounts and execute bulk orders swiftly. This allows them to provide better services to their clients and remain competitive.

Lenders: Financial institutions and peer-to-peer lenders use the EMS Trading API to monitor the real-time value of crypto assets held as collateral. This ensures they have the most accurate and up-to-date information, thereby managing risk more effectively.

Over-The-Counter (OTC) Desks: OTC desks, where trades are conducted directly between two parties, utilize EMS Trading API for efficient price discovery and trade execution. This ensures they can provide their clients with the best possible trade terms.

Custodians: Crypto custodians, responsible for safeguarding digital assets, benefit from EMS Trading API by getting real-time updates on asset values. This enables them to provide their clients with accurate and timely reporting.

Exchanges: Crypto exchanges use EMS Trading API to offer their users seamless and efficient trading experiences. With its capability to handle high-frequency trading and provide real-time market data, our API can significantly enhance an exchange’s functionality.

Retail Platforms: Retail trading platforms, aiming to make trading accessible to the general public, use EMS Trading API to integrate multiple exchanges and offer their users a wider range of trading options.

EMS Trading API is an essential tool for any business involved in the world of crypto trading. Its diverse functionality and adaptability make it an ideal solution for businesses across the financial spectrum, from investors and brokers to lenders and retail platforms.

Getting Started with EMS Trading API

Step 1: Understand What EMS API Is

The Execution Management System (EMS) API is a software product that manages orders, executions, and exposure in an efficient, fast, cost-effective, and straightforward manner. It allows you to route orders to multiple cryptocurrency exchanges simultaneously using a simple, robust, and unified Application Programming Interface (API).

Step 2: Choose Your Hosting Option

The EMS API can be used in two ways:

– Managed Cloud – Everything is hosted on CoinAPI’s side. You manage the deployment using the REST API.

– Self-Hosted – The software is on CoinAPI’s side, but everything else is on your side.

Choose the option that best suits your needs and capabilities.

Step 3: Register for an API Key

To use the EMS API, you’ll need to register for an API key on the CoinAPI.io website. This key is used to authenticate your requests.

Step 4: Make Your First Request

Once you have your API key, you can start making requests to the EMS API. The exact nature of these requests will depend on what you’re trying to achieve, but they’ll generally involve sending HTTP requests to the API’s endpoints.

Here’s an example of how you might send a request using Python:

Replace “your_endpoint_here” with the endpoint you’re trying to access, and “your_api_key_here” with your actual API key.

Step 5: Understand the Response

The EMS API will return data in JSON format. You’ll need to parse this data to use it in your application. The exact structure of the data will depend on the endpoint you’re accessing.

Step 6: Handle Errors

If something goes wrong with your request, the EMS API will return an error message. You should write your code in such a way that it can handle these errors gracefully.

Step 7: Dive Deeper

The EMS API has many features and capabilities. Once you’ve mastered the basics, you can start exploring these in more depth. The official documentation is a great resource for this.

Remember, working with APIs can be complex, and it’s normal to run into difficulties. Don’t be afraid to ask for help if you need it. Good luck!

Conclusion

EMS Trading API is a game-changer for traders looking to maximize their trading potential. With its advanced features, real-time data access, and seamless integration, traders can take their trading to the next level. By leveraging the power of this API, traders can make faster and more informed decisions, execute trades with precision, and ultimately achieve better results in the market.

The EMS Trading API is more than just a tool; it’s your partner in effective and efficient trading. Start using the EMS Trading API today and elevate your trading game.

Sign up for a free trial or contact our team to learn more about how this powerful tool can revolutionize your trading experience. Don’t miss out on the opportunity to gain a competitive edge in the market. Take control of your trades and maximize your profits with the EMS Trading API.