Senaf has developed an API (Application Programmer Interface) with the objective of improving the service it provides to its clients.

The SAPI is an interface between the members and the Senaf which allows members to integrate in their systems all our market information, and to send market orders from automatic trading systems.

By means of the SAPI, members are able to:

Receive all information from the market :
Since the information is received in electronic format, of all the information they are able to include it directly into their information systems for analysis or screen displayed as required. This information includes both real time market developments and statistical market summaries.

Send orders to the market:
They are able to send buy orders, orders for the sale of positions in demand and on offer, electronically. These orders may therefore be sent from their decision systems through screens specially designed for their users.

The SAPI being an open environment, it may be connected with multiple systems of the member entities:

- Connection with any Back Office application.

- Middle Office Risk Management Applications.

- Front Office Applications:

- Automatic Price Generation.

- Automation of the Treasury time requirements.

- Automation of the strategies for other Bonds.

- Routing of orders.

- Visualization of the Senaf prices in any platform.

The Senaf members may develop the necessary interfaces between the SAPI and their computer systems and/or contract the services and products offered by Senaf Application Providers.

SAPI Messajes

The messages that can be processed by the market fall into two general types:

Requests: These are messages sent by Members to the Senaf Market. They are regarded as firm orders, but will not be deemed valid until they have been fully processed, registered and published by the Senaf central system.

They are divided into the following order types:

Connection with and disconnection from the market:

-Connection establishment
-User autentication by means of his user ID and password.
-Disconnection request.

Quote handling:

-Buy or sell requests
-Bid or ask request
-Combined bid/ask request
-Quote modification request
-Combined quote modification request
-Quote cancellation request

All these requests admit multiple variations, permitting them to meet the precise
requirements of the user.

Information requests:

-Compliance information
-Operations information
-Traded instruments information
-Operations summary information

All these requests admit multiple variations, permitting them to meet the precise
requirements of the user.

Publications: These are messages sent by the market to all its Members. Contrary to other markets, Senaf publishes absolutely every price quoted and every operation crossed in the market to all its Members.

A Member receives publications in response to its requests as well as publications in response to requests sent by others or due to market events.

There are also several types of publications that do not originate from a request sent by the Member:

Market session status:

-Market session start/end
-Trading session start/end

Quote information:

-Crossed operation
-Operation modification
-Reference update

Recovery:

-Recovery start/end
-Recovery messages

Control:

-Control response
-System problems notification

SAPI Overview