Angel Broking gained 0.74% to Rs 354.9 after the brokerage firm announced that it has opened itself to API integration via SmartAPI.
The free-to-integrate feature enables any platform, including startups and stock advisories, to execute real-time trades via Angel Broking while also empowering algo traders to deploy their programs in 5 programming languages.Angel Broking said customers who would like to create algorithm in any of these languages will be able to execute order directly to their account through SmartAPI. For instance, customer-facing algo trading platforms can now integrate with Angel Broking platform and help their customers execute trades via the brokerage firm seamlessly. At present, the platform supports Python, Nodejs, Java, R, Go. SmartAPI has paved the way for the development of end-to-end trading services for over 2.83 million customers.
Commenting on the launch, Vinay Agrawal, CEO of Angel Broking said, Angel Broking has always been at the forefront of tech-driven innovations. Today, we are proud to announce another milestone in this regard with SmartAPI. SmartAPI will not only empower its users to build robust platforms and drive algo trading seamlessly, but also unlock the next wave of ultramodern services aimed at our customers. We have ensured that the platform supports the broadest range of programming languages and are working towards adding more in the near future.
The platform not only enables customers to provide APIs in multiple coding languages but also assist them in getting their queries clarified by panel of experts through a dedicated forum, the company added.
Angel Broking is a financial services company providing broking and advisory services, margin funding, loans against shares and financial products distribution to its clients.
The company's consolidated net profit soared 288.30% to Rs 74.48 crore in Q2 FY21 from Rs 19.18 crore in Q2 FY20. Total income during the quarter jumped 76.1% year-on-year (YoY) to Rs 317.92 crore.
Shares of Angel Broking were listed on the stock exchanges on 5 October 2020. The stock was listed at Rs 275, at a discount of 10.13% to the initial public offer (IPO) price of Rs 306. It lost 3.52% to close at Rs 266.15 on its listing day.
The IPO of Angel Broking was subscribed 3.94 times. The issue opened for bidding on 22 September 2020 and closed on 24 September 2020. The price band for the IPO was set at Rs 305-306 per share.
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