Setting-up a Prop Trading Desk with Kite API

[theduke95]

Hello,

I am planning to set up a small prop trading firm. Can i build a trading platform with kite API to allocate dedicated accounts for my employees?

@nithin @siva

[nithin]

@theduke95

Hello,

I am planning to set up a small prop trading firm. Can i build a trading platform with kite API to allocate dedicated accounts for my employees?

@nithin @siva

You will not get multi-user access if you build a platform using APIs. Also, at a time, you can only log in from one place. So don’t think it will solve what you are trying to achieve.

[theduke95]

@nithin

Is there any option available to meet this requirement with Zerodha?

For a small prop desk do you have any solution to meet this requirement? At this phase we are not able to spend NSE Alpha membership, Broking Platform development etc.

[nithin]

@theduke95

Is there any option available to meet this requirement with Zerodha?

For a small prop desk do you have any solution to meet this requirement? At this phase we are not able to spend NSE Alpha membership, Broking Platform development etc.

The new SEBI regulations don’t allow simultaneous logins from multiple devices on the same account. So, this isn’t really possible now.

[theduke95]

@nithin
One Last Question. With Alpha membership do we get the same margin benefit as what brokers give to retail clients?

Equity Intraday - 1 Reliance @ rs 487
Futures - bank Nifty @ - 1.50L
Option Selling - 1.46 L ( Straddle)

[nithin]

@theduke95

One Last Question. With Alpha membership do we get the same margin benefit as what brokers give to retail clients?

Equity Intraday - 1 Reliance @ rs 487
Futures - bank Nifty @ - 1.50L
Option Selling - 1.46 L ( Straddle)

I had shared this post a few weeks back, this should answer your questions.

Working capital requirements for brokerage firms to go up from Aug 1st 2022

Unless you are trading with tens of crores of capital, I don’t think it is worth the efforts involved in everything from compliance to operations of being an alpha member.

Maybe an easier way to get started is to have one person placing orders & keeping a tab on which trader the order is coming from. This can be done either using our APIs or even manually.

[sureshk2n]

@nithin

Hi Nithin,

I can develop a portal using kite API and using a login token stored common in a portal for all prop traders. And I can limit capital allocated and track each of their positions or allow only intraday. In this case is it legal for a Individual Trader to allow other traders to trade? And also is it possible to charge small audition fee / joining fee from prop traders?

Thanks

[nithin]

@sureshk2n

Hi Nithin,

I can develop a portal using kite API and using a login token stored common in a portal for all prop traders. And I can limit capital allocated and track each of their positions or allow only intraday. In this case is it legal for a Individual Trader to allow other traders to trade? And also is it possible to charge small audition fee / joining fee from prop traders?

Thanks

Using Kite APIs you will not be able to allow two users to access and place an order on the account at one time. The prop trading requirement is to be able to allow multiple users to be placing orders at the same time, and this is not legally allowed on a client trading platform.