NSE’s new retail algo trading circular is finally out, laying down a clearer framework for how APIs and automation can be offered to retail traders. You can find the circular from the exchange here.
Whether you’re coding your own strategy, building on a vendor platform, or using broker-offered automation, this lays out what’s allowed, what needs registration, and how responsibilities are shared across participants.
We’ve put together a comprehensive overview covering all of this in this Z-Connect post:
We at Zerodha have offered APIs for retail users and startups on http://kite.trade for Rs 2000 per month. With this new clarity, the regulatory risk in offering the product is greatly reduced, and so we’re bringing the price down to Rs 500 per month for the data (real-time + historical) APIs. The order placement and account management APIs (view holdings, positions, etc.) have been made free since March of 2025.
So yeah, pricing now looks like this:
- ₹500/month for real-time + historical data APIs
- Free access to order placement and account-related APIs (like viewing holdings, positions, funds, and order history). Read more here.
Specifications Comparison
This table summarizes the key requirements for each type of algo:
| Aspect | Broker-Generated Algos | Algo Provider Algos | Client-Generated Algos |
|---|---|---|---|
| Definition | Algorithms created and offered by brokers to clients, registered with exchanges. | Algorithms developed by empanelled third-party providers, registered with exchanges, and offered via brokers. | Algorithms created by clients (or through third parties), used via broker’s trading systems. |
| Registration Requirement | Must be registered with exchanges; assigned unique algo IDs. | Must be registered with exchanges; assigned unique algo IDs usable across brokers. | Unregistered if ≤10 orders/sec (OPS); registered with unique algo ID if >10 OPS. |
| Static IP Requirement | Static IP can be broker’s or client’s for API access. | Static IP can be vendor’s or client’s for API access. | Static IP mandatory (client’s or vendor’s if via empanelled provider); mapped to API keys. |
| Order Threshold (OPS) | No specific OPS limit mentioned; subject to broker’s risk management. | No specific OPS limit mentioned; subject to broker’s risk management. | Capped at 10 OPS for unregistered algos; exceeding requires registration. |
| Algo ID Tagging | Orders tagged with exchange-specific algo ID. | Orders tagged with exchange-assigned unique algo ID. | Orders tagged with generic ID (unregistered, ≤10 OPS) or unique ID (registered, >10 OPS). |
| Change Management | Brokers report algo logic changes to exchanges for approval updates. | Providers report changes via brokers; exchanges update registrations. | Clients report changes to brokers, who notify exchanges for registration updates. |
| Broker’s Role | Create, register, and offer algos; provide algo details to clients; ensure compliance. | Facilitate integration with provider’s platform; conduct due diligence; notify exchanges of arrangements. | Provide API access; monitor OPS limits; forward registration details to exchanges; ensure compliance. |
| Provider Involvement | None; brokers develop algos independently. | Empanelled providers develop algos; brokers may have commercial/technical arrangements. | Optional; clients may use third-party developers (treated as client algos). |
| Security Requirements | OAuth/2FA, password expiry, no open APIs; hosted on broker’s cloud servers. | OAuth/2FA, password expiry, no open APIs; hosted on broker’s cloud servers. | OAuth/2FA, password expiry, no open APIs; hosted on broker’s cloud servers. |
| Risk Management | Brokers ensure RMS checks, compliance with IBT/STWT, and algo trading guidelines. | Brokers ensure RMS checks, compliance with IBT/STWT, and algo trading guidelines. | Brokers ensure RMS checks for unregistered algos (≤10 OPS) and compliance with IBT/STWT guidelines. |
| Broker Liability | Fully liable for all orders; exchanges can terminate rogue algos. | Fully liable for all orders; exchanges can terminate rogue algos. | Fully liable for all orders; exchanges can terminate rogue algos. |
| Exchange Oversight | Exchanges assign algo IDs, approve changes, and can terminate rogue algos. | Exchanges empanel providers, assign algo IDs, and can terminate rogue algos. | Exchanges assign algo IDs (generic or unique), approve registrations, and can terminate rogue algos. |
To know more, check out our API documentation. For any questions on how to use the APIs, create a post on the Kite Connect developer forum.
Further, we’ll continue to track any updates from the exchanges on the registration process and share more details as they’re announced.