May 02, 2023
When you operate a trading business, something you can’t get wrong is knowing when trading is allowed on the venues you support. And you need this to be fully automated to the millisecond. If you don’t do this right, your clients may simply start questioning your competency.
Unfortunately, long gone are the days when venues were few and trading hours were uniform. Many exchanges like CME Group now run multiple trading sessions (or phases), throughout the day, electronic trading is pervasive, and some venues even started offering nighttime trading for equities. This rising complexity makes it challenging for tech teams at brokerage firms, financial institutions, and even fintechs, to ensure that they’re systems operate in sync with the market. This means you cannot hard code this logic in your system. You need a reliable source for venues trading hours and trading phases.
This is why Xignite introduced a new endpoint to our XigniteGlobalHolidays API. GetExchangePhases returns all the exchange phases for an exchange. A phase represents a period of distinct trading activity marked with a phase start and a phase end times. This endpoint complements GetExchangeHours which returns open and close times of an exchange.
For example, a call for the NASDAQ (XNAS) trading phases may return this:
This enhancement is available now to all users of XigniteGlobalHolidays.
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