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By Rob Seidman, Betsy Eisenberg | Published December 18, 2018 - Updated December 18, 2018
There’s been an explosion of capabilities available to the modern FinTech developer. Options that may not have been useable a few years ago — portfolio projections, rebalancing and optimization as a service, tailored portfolio advice — are now accessible through the technological advancements of the cloud. Developers can take advantage of these sophisticated capabilities through an API when building their applications to harness the power of enterprise-grade analysis through a single-line call in their code when adding differentiating capabilities to the individual user. All a developer has to do is patch into their brokerage to have the whole experience wrapped up end to end.
Trouble is, there are a lot of brokerages out there — some offering low- or zero-commission trades, some catering to retirement accounts, and others catering to high-net-worth individuals with unique needs. As there’s no industry standard way to connect to all of those brokerages, that’s a lot of integration work for a FinTech developer attempting to lower the barrier to entry by executing on the entire workflow. Asking users to provide that information or perform the last mile of effort, like going to place the trades themselves, can have a dramatic effect on audience participation (read: people don’t like to do work!). We need a solution for this one-to-many problem of patching into the user’s brokerage of choice.
This is where we turn to our third-party partner: TradeIt. TradeIt’s ecosystem enables partners to add portfolios and trading capabilities via SDK or API to their platforms. Users can initiate a trade with the tap of a button, from any quote page, watchlist, or custom application. By simply signing into their selected broker screen (using OAuth), users can view their synced account in real-time and execute orders. Order communications are passed directly to the user’s brokerage, which then handles the trade execution. TradeIt and its partners do not retain users’ brokerage credentials; instead, the data is maintained by the financial institution you’re connecting to.
In the code pattern “Place trades through your online broker using simple API calls“, you learn how TradeIt can be integrated with the suite of IBM Financial Risk APIs by providing a bridge to the user’s brokerage of choice. In doing so, the FinTech developer can achieve an end-to-end workflow by executing trades suggested as a result of other analysis. By connecting to the IBM Investment Portfolio API, users can aggregate their trades from multiple brokerages and leverage TradeIt capabilities to abstract away the complexities of performing the trades and tapping into the broader capabilities of the IBM Cloud.
We invite you to try it out. This code pattern can serve as a template for integrating IBM’s capabilities with TradeIt. Try optimizing or rebalancing your portfolio and using this code pattern to place the resulting trades, or just placing some trades manually here.
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