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EMS Trading API

EMS Trading API vs Single Exchange Access – What’s better?

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Choosing trading tools is just as important as your trading strategy. You can either go with a single exchange trade, trade on multiple exchanges while switching between them or go with an EMS. This blog post discusses EMS, EMS Trading API, and explains what is the right fit for you!

What is an Execution Management System?

An Execution Management System is trading software for the buying side. It provides real-time market data, advanced trading options, tools for managing available funds, and analysis of transaction costs. It allows traders to make trades quickly and efficiently, improving their strategies and reducing trading costs.

Traditional (Financial Market) Execution Management Systems often focus on a specific type of asset, such as stocks or bonds, because trading features differ significantly between asset types. Some providers have separate systems for different asset classes, while others offer a single platform for multiple types of assets.

What is an EMS API?

An EMS API (Execution Management System Application Programming Interface) is a set of protocols and tools that allow software applications to interact with an Execution Management System. This API enables developers to integrate EMS functionalities into their own trading applications, platforms, or other systems.

💡 ATTENTION! EMS and EMS API could also refer to Entity Management System API; Event Management System API, Energy Management System API, Endpoint Management Server, and others. Be careful when choosing your provider!

What is EMS Trading API by CoinAPI?

CoinAPI’s EMS Trading API makes managing and executing orders across 20+ cryptocurrency exchanges easy through one unified interface. The API handles exchange integrations and system maintenance, allowing you to focus on trading and development.

Key Features:

  • Multi-Exchange Access: Connect to multiple cryptocurrency exchanges with a single account. Manage multiple trading accounts from over 20+ exchanges.
  • Order Management: Place, modify, and cancel orders across multiple exchanges. Unified API for seamless order management.
  • Execution Management: Efficiently manage orders, executions, and exposure. Route orders to multiple exchanges simultaneously.
  • Market Data: Access real-time and historical market data. Order book-level price and trade data for backtesting and analysis.
  • Trading Automation: Automate trades and interact with the trading system. Conduct transactions directly on exchanges.
  • Performance and Reliability: Designed to meet the performance, reliability, and security requirements of large institutions. Best-in-class global multi-asset coverage and connectivity.
  • Liquidity Management: Eliminate liquidity problems by accessing multiple exchanges. Centralize API order routing to optimize liquidity.
  • Support and Assistance: Various support levels depending on the pricing plan. Integration assistance and custom SLAs for higher-tier plans.

Customization options enable quick development of tailored applications. The API offers low latency, essential for high-frequency trading, and integrates third-party APIs into a simple, robust data model. It supports industry-standard protocols like REST, WebSocket, and FIX, ensuring flexibility and compatibility.

💡 The API supports various order types, including Limit, Market, Stop-Loss, and Take-Profit orders, with standardized data for consistent decision-making. It integrates with both centralized and decentralized exchanges.

Why is it better to use EMS Trading API than using a single exchange?

When you use CoinAPI’s EMS Trading API, you can connect to multiple exchanges using just one account. This makes cryptocurrency trading simpler because you can manage and execute trades without switching between different platforms. The API brings all your order routing to one place, helping you get the best prices from different exchanges. This makes it easier to manage your accounts and saves you time.

Our API is built for speed and efficiency, supporting high-frequency and algorithmic trading for quick execution. This is crucial for capturing arbitrage opportunities and implementing strategies swiftly. – Artur Pietrzyk, CEO @CoinAPI

Using a single API minimizes errors and improves compliance since there’s no need to switch systems or re-enter information. Its integrated compliance and workflow automation features help with regulatory requirements and risk management.

💡 EMS Trading API simplifies your trading infrastructure, making it easier to handle large and complex institutional portfolios.

Pros and Cons – EMS Trading API vs Single Exchange Access

EMS Trading API

Pros:

  1. Multi-Exchange Access: Connect to multiple cryptocurrency exchanges using a single account, simplifying the trading process.
  2. Unified API: Provides a simple, robust, and unified API for routing orders to multiple exchanges.
  3. Efficiency: Saves time by allowing you to trade all your crypto from one place without switching between exchanges.
  4. Scalability: Supports unlimited trading accounts, making it suitable for large institutions.
  5. Best Pricing: Centralizes your API order routing process to get the best pricing across exchanges.
  6. Historical Data: Access dependable order book-level price and trade data for backtesting or other analyses.
  7. Security: Designed to meet large institutions’ performance, reliability, and security requirements.

Cons:

  1. Complexity: The setup, especially for the self-hosted option, can be more challenging compared to single exchange access.
  2. Cost: May be more expensive due to the advanced features and multi-exchange capabilities.
  3. Latency: Potential for increased latency due to the need to route orders through multiple exchanges.

Single Exchange Access

Pros:

  1. Simplicity: Easier to set up and manage since you are dealing with only one exchange.
  2. Lower Cost: Generally less expensive as you are only paying for access to a single exchange.
  3. Lower Latency: Direct access to a single exchange can result in lower latency for order execution.

Cons:

  1. Limited Access: Restricted to the trading pairs and liquidity available on a single exchange.
  2. Manual Management: Requires manual switching between exchanges if you want to trade on multiple platforms.
  3. No Unified API: Each exchange has its own API requirements, making it more cumbersome to manage multiple accounts.

EMS Trading API Architecture

The EMS Trading API can be deployed in two different ways: Managed Cloud and Self-Hosted. Each deployment model has its own architecture and components.

Managed Cloud

In the Managed Cloud model, CoinAPI hosts and manages the entire infrastructure. This model is designed for ease of use and quick deployment.

Components:
  • CoinAPI EMS Edge: Software responsible for communicating with specific order destinations (exchanges).
  • Cloud Management API: Interface for managing the deployment and configuration of the EMS system.
  • Order Routing: Centralized system for routing orders to multiple exchanges.
  • Monitoring and Optimization: CoinAPI handles the monitoring and optimization of latency and performance.
Main Features:
  • Hosted in the cloud by CoinAPI.
  • CoinAPI manages the deployment and infrastructure.
  • Easy to use and install.
  • Fast time to market.
  • No need for a DevOps team to maintain.
  • CoinAPI optimizes latency.
Pros:
  • Ease of Use: Very easy to set up and use.
  • Time to Market: Fast deployment, allowing you to start trading quickly.
  • No Maintenance: CoinAPI handles all infrastructure and monitoring.
  • Latency Optimization: CoinAPI ensures low latency by managing server sites close to order destinations.
Cons:
  • Less Control: Limited control over the infrastructure and deployment.
  • Privacy: CoinAPI can see the transactions since they manage the infrastructure.

Self-Hosted

In the Self-Hosted model, the software is deployed on your own infrastructure. This model provides more control and privacy but requires more effort to set up and maintain.

Components:
  • CoinAPI EMS Edge: Software responsible for communicating with specific order destinations (exchanges).
  • Deployment Infrastructure: Servers or cloud instances where the EMS software is installed.
  • Order Routing: Centralized system for routing orders to multiple exchanges.
  • Monitoring and Optimization: You are responsible for monitoring and optimizing latency and performance.
Main Features:
  • Software is hosted on your own infrastructure.
  • You manage the deployment and infrastructure.
  • More challenging to set up.
  • Slower time to market.
  • Requires a DevOps team to maintain.
  • You optimize latency.
Pros:
  • Control: Full control over the infrastructure and deployment.
  • Privacy: Transactions remain private as CoinAPI cannot see them.
  • Customization: More flexibility to customize the setup according to your needs.
Cons:
  • Complexity: More challenging to set up and maintain.
  • Time to Market: Slower deployment compared to Managed Cloud.
  • Maintenance: Requires a dedicated DevOps team to manage and monitor the infrastructure.
  • Latency Optimization: You are responsible for optimizing latency.

Dimension comparison summary

Dimension Managed Cloud Self-Hosted
Ease of use/installation Very easy Hard
Time to market Fast Slow
DevOps team required No Yes
Order flow privacy No Yes
Infrastructure management CoinAPI You
Latency optimization CoinAPI You
💡 READ MORE ABOUT EMS TRADING API IN THE DOCUMENTATION

EMS Trading API Different Plans

Plan Price Features
FREE + PAY AS YOU GO $0 monthly – Public knowledge base
– Basic support
-1 exchange account
PROFESSIONAL $999 monthly – All features from the Free package
– Enhanced support
– 3 exchange accounts
– SLA (Service Level Agreement)
– Integration assistance
ENTERPRISE Custom – All features of lower packages
– Custom SLA & features
– Extended integration assistance
– Premium support
– Managed Infrastructure

What’s better – EMS Trading API or trades on a single exchange?

EMS Trading API and single exchange access have their pros and cons. EMS is the perfect solution for anyone who wants to access and manage all trades from a single place. Ideal solution for high-frequency traders no matter if you want to use cloud or self-hosted – we are covering both.

Single exchange access is ideal if you want to invest and work on your personal portfolio with low-frequency trading. It offers a simpler setup and management process, which is perfect for individual traders or beginners who prefer a straightforward approach. Since you’re dealing with only one exchange, the costs are generally lower, and you can benefit from lower latency due to direct access. This makes it easier to focus on specific trading pairs and develop a deeper understanding of the exchange’s unique features and liquidity pools.

In the end, it’s all about the number of trades, privacy, and the safety of your transactions. Single exchange access suits those with fewer trades and a preference for simplicity. However, for those who value comprehensive features, multi-exchange access, and robust trading capabilities, the EMS Trading API is the better choice. Ultimately, your decision should be based on your trading volume, your need for privacy, and the security of your transactions.

💡 Read more about EMS Trading API

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