Traditional Finance

These are the flows for a traditional trading API.

Unit Sell with Execution

1. Client sends sell order request.
2. XFT processes: creates order, locks shares.
3. XFT sends order creation webhook to Client.
4. Client sends position update webhook to XFT.
5. XFT submits order to trading partner, sends order processing webhook to Client.
6. XFT executes part of the order, updates position and cash balance, sends execution and update webhooks to Client.
7. XFT executes remaining order, repeats webhooks.
8. XFT sends final order filled and settlement webhooks to Client.

Nominal Buy with Execution

1. Client sends buy order request.
2. XFT processes: creates order, locks funds.
3. XFT sends order creation webhook to Client.
4. Client sends cash balance update webhook to XFT.
5. XFT submits order to trading partner, sends order processing webhook to Client.
6. XFT executes part of the order, updates cash balance and positions, sends execution and update webhooks to Client.
7. XFT executes remaining order, repeats webhooks.
8. XFT sends final order filled and settlement webhooks to Client.

Get Instruments Base Data

1. Client requests instruments base data from XFT.
2. XFT retrieves data from database.
3. XFT sends instruments base data response to Client.
4. Client checks for updates via webhook to XFT.
5. XFT monitors for data changes and sends update webhook to Client if changes occur.

NAV-based order process and creation of ETF shares

1. Investor places NAV-based order with AP.
2. AP buys basket in the market.
3. AP transfers basket to ETF for in-kind creation.
4. ETF performs NAV fixing.
5. AP provides cash to ETF for cash creation.
6. ETF performs NAV fixing.
7. ETF issues shares at NAV to AP.
8. AP forwards ETF shares at NAV to Investor.