Thomson Reuters has simplified access to its data feeds and services with a family of open source application programming interfaces (APIs) that are designed to help developers create innovative applications quickly and more easily than was previously possible.
The Elektron API family is a response to customer interest in open source APIs that can be extended to provide access not only to Thomson Reuters’ content, but also to third-party and proprietary content and systems. The APIs also meet customer requirements for APIs that are easier to use than Thomson Reuters’ existing UPA Ultra-Performance API and RFA Robust Foundation APIs.
The Elektron API family provides access to Thomson Reuters’ Elektron market data delivered by Elektron Real Time and content delivered using the Thomson Reuters Enterprise Platform, although the company is planning to provide open source APIs for all its services over time. The initial family includes four APIs: a low-level Elektron transport API that is a rebrand of UPA and is not open source but provides high performance for tasks such as the development of algorithm based apps; an open source Elektron messaging API that will be available in about two weeks; an open source Elektron object API that includes data structures of financial objects and will be available in the fourth quarter of this year; and an open source Elektron web API that will also be available in the fourth quarter and will allow developers to build and run apps in a browser.
The APIs are being made available to Thomson Reuters’ Developers Community and carry a small charge for support. They can also be downloaded from the GitHub open source platform free of charge, but with no support. The company’s existing RFA APIs will continue to be supported by Thomson Reuters.
Brennan Carley, head of platform and analytics, financial and risk, at Thomson Reuters, says: “We expect in-house developers in both buy- and sell-side firms and third-party application developers to use the Elektron APIs. These APIs lower the bar in terms of making it easier and quicker for developers to innovate and create new applications. For example, our existing APIs use 500 to 600 lines of code to consume market data, while the new APIs use 20 to 30 lines.”
Design and development of the Elektron API family was supported by five banks that took part in an early access project and went on to use the APIs in a beta programme that is now finalising the APIs that will be released later this year.