FAQ about IT

Does Borsa İstanbul have an independent API? Is it possible to send orders directly to the exchange without any third party?

No, you have to send your orders to Borsa Istanbul through a member Intermediary Institution of Borsa İstanbul. Please follow below link for Members List

Does your stock exchange support high frequency trading? Are servers of external companies placed near the exchange or is it a "fair game" in terms of latency?

Borsa İstanbul does not support HFT yet.

What is the volume of the trading in your exchange that comes from automated tools?

97% of the orders come from APIs.

What regulatory issues do we have to take into account trading in your exchange (both as a private person and as an organization)?

Please refer to ‘Summary Information about Borsa İstanbul Equity Market Trading Rules’ document.

Does Borsa İstanbul give co-location services?

There is an on-going project at its final stage related to co-location services.

In which way are the orders submitted?

There are 3 ways of order submission currently:

1. From Trading Floor through Trading Workstations.

2. From Member Locations through remote access called ExAPI.

3. From Member Locations in FIXAPI Protocol.

Does your system support HFT?

Borsa İstanbul does not support HFT yet.

Is there a Training Manual or User Guide for Borsa İstanbul Terminal?

Yes, there is a Programmers’ Manual for ExAPI and a Rules of Engagement Document for FIXAPI protocol.

How many orders per second can we send in equity markets?

A member can send up to 400 orders/second through FIXAPI protocol in equity markets.

Is there any throttling on the matching engine for order or trade confirmations?

Yes, a message throttling mechanism is applied to limit number of orders per second each member is authorized to send.

What is the capacity of messaging? What is the capacity of getting messages in a specified time?

By Futures and Options Market API terminals, 15 orders can be submitted in one second. We are planning to launch Futures and Options Market FIX API at the beginning of April. Submitting an order by FIX API in one second will be many times more than by API terminals. The detailed information about this subject will be given as soon as possible.

Is it possible to get historical data for the previous year?

It is not possible to give historical data, but when co-location service is given, this subject will be evaluated again.

What is the latency in Futures and Options Market API (VİOP API)? How much latency is expected in Futures and Options Market FIX API (VİOPFIX API)?

These metrics are related with your lines. That is why it is not possible to give an exact number. However, you can measure the latency by sending a ping.

When will co-location service be given?

The studies about this subject are going on. We can not give an exact time, but it will be announced when ready.