API Terms and Conditions

Finvasia is a member of NSE, BSE and MCX, NCDEX and is registered with the Securities & Exchange Board of India (SEBI) as a stockbroker with the SEBI registration numbers as stated below:

  • • INZ000176037 for Cash/Derivatives/Currency/Commodity segments of NSE/BSE/MCX/NCDEX.

The ―Client―You―User is any individual or entity with an exchange approved UCC (Unique Client Code) account with Finvasia, able to trade various securities through Finvasia (in compliance with various exchange and SEBI regulations).

The APIs provide programmatic access (including, but not limited to: placing, modifying and cancelling orders; managing funds and portfolios; accessing order and account related information etc.) to various exchanges via Finvasia using a Client account.

The terms described in this document, and any additional terms, terms within the accompanying API documentation, and any applicable policies and guidelines as concerning the use of the APIs are collectively referred to as the Terms.

This agreement is between ―You/User (accessor and consumer of the APIs) and ―Finvasia , the stock broker offering broking services via the APIs. You may be a Finvasia Client yourself, or you may be an entity offering the APIs in turn to other Finvasia Clients as end users.

You agree to any and all changes to the Terms without specific communication from Finvasia, by your continuing usage of the APIs and/or continuing to hold an account with Finvasia. This does not apply to collection of additional personal data by Finvasia from you, which will be done providing notice to You and with your consent.

Subsidiaries and Affiliates:

Finvasia has subsidiaries and affiliated legal entities throughout India. These companies may provide the APIs to You on behalf of Finvasia and the terms will also govern your relationship with these companies.

  1. 1) Account and registration
  2. a) Accepting the Terms

We will create your account with your consent at the time of sign-up.

You may not use the APIs and may not accept the Terms if (a) You are not of legal age to form a binding contract with Finvasia, or (b) You are a person or entity barred from using or receiving the APIs under the applicable laws of India or other countries including the country in which You are resident or from which You use the APIs.

  1. b) Entity Level Acceptance

If You are using the APIs on behalf of an entity, You represent and warrant that You have authority to bind that entity to the Terms and by accepting the Terms, You are doing so on behalf of that entity (and all references to ―you‖ in the Terms refer to that entity). You also represent that accepting the Terms doesn’t contravene the entity’s constitutional documents or any other agreements.

  1. c) Registration

In order to access certain APIs You may be required to provide certain information (such as identification or contact details) as part of the registration process for the APIs, or as part of your continued use of the APIs. Any registration information you give to Finvasia will always be accurate and up to date and you’ll inform us promptly, but no later than 7 days, of any updates (this may be subject to documentary proof in certain cases). Further, you have the right to ask for a summary of your personal information held by Finvasia.

  1. 2) API usage

The APIs are meant to be used for building innovative investment and trading platforms (―IBT‖ - Internet Based Trading) with the greater goal of increasing capital market participation in India. This may be for personal use, where you, a Client, develop a private interface exclusively for customizing personal trading and investment experience, or this may be for building a trading platform. The development of trading platforms is bound by various norms and regulations stipulated by various exchanges and SEBI. You are responsible for ensuring You adhere to these platform guidelines and regulations, and seeking appropriate regulatory approvals if necessary. If You seek to obtain exchange approvals for your platform as Finvasia’s in-house platform, Finvasia will provide the necessary assistance where Finvasia solely believes it is necessary.

  1. a) Permitted access

You will only access (or attempt to access) an API by the means described in the documentation of that API. The APIs are available here. Any circumvention of the methods described in the documentation may result in the termination of your access to the APIs. Please note that live market data obtained via Shoonya cannot be displayed to the public at large, and you cannot attempt to reverse engineer, derive the composition or underlying information, structure or ideas of the market data. You are not permitted to use the APIs and/or live market data for virtual/mock trading apps, trading related games, to mislead or deceive others, for fraudulent or malicious purposes, to misrepresent the source of any content, to impersonate any person or entity, in violation of any applicable law, or in violation of any person’s privacy. Any such redistribution or attempt, if found, may result in the immediate termination of your access to Shoonya.

Your right to use the APIs is based on a limited license provided by Finvasia to You, for use within India and for the period of this agreement with Finvasia.

Your access and usage rights will completely terminate when Finvasia terminates your access to the APIs.

In the development of algorithms which ensure the stability and optimal performance of Shoonya's servers. In the event if any buggy algorithm adversely affects server performance, Shoonya reserves the right to disable the API key on immediate effect without any notice.

Adhere to the rate limits specified in Shoonya's API documentation. Exceeding these limits or generating unnecessary hits may result in the suspension or termination of the API key.

  1. b) API rate-limiting

Finvasia may set limits on your use of the APIs (for instance, limiting the number of requests sent to a particular API) manually or via automated checks to ensure the stability of the APIs.

If You need to use the APIs beyond the limits imposed by Finvasia, You have to obtain express written consent from Finvasia, by writing to us. Finvasia may decline or accept such a request based on various factors.

  1. c) Exclusivity

The API Terms are non-exclusive. You acknowledge that Finvasia may develop products or services that may be similar and may be in direct or indirect competition with any platform that is built using the APIs, or provide the APIs to platforms or clients using it for a purpose similar to You.

  1. d) Tracking and monitoring

By using the APIs, You agree that Finvasia may monitor, track, and record all interactions and requests happening via the API, your own and your end users, for the purpose of ensuring stability, security, and reliability of the API, and for any audit-related requirements.

  1. e) Automated trades

The APIs are not meant for placing fully automated trades (without manual intervention). If you wish to use the APIs for full automation, you should seek necessary approvals from the exchange. Finvasia may provide the necessary assistance in obtaining approvals.

  1. 3) Your end users

You may use the APIs to build platforms, which You may in turn offer to other Clients of Finvasia (after obtaining the required exchange approvals). Neither Finvasia or anyone affiliated with the APIs may be held responsible for the losses suffered by the client or You, arising from technical malfunctions of your platform or the APIs. Your end users, Finvasia’s Clients, are bound primarily by the terms and conditions they agreed to at the time of their account registration with Finvasia, over and above the terms they may have agreed to when starting to use your platforms.

  1. a) Ownership

As the APIs are restricted to–and only work with–the accounts of Finvasia clients, all end users You offer your API-enabled platforms to, are Finvasia’s Clients. Any new user that You may refer to Finvasia (who in turn opens an account with Finvasia on their own volition) for the purpose of offering your platform, is also Finvasia’s Client. While You may promote your services to such a Client, You cannot claim any exclusivity to the Client or their data.

Finvasia may offer any service or offering to any of its existing clients, including Clients referred by you, at any time.

  1. b) User Privacy

You will comply with all the applicable privacy laws and regulations including those related to Your end users, including the Digital Personal Data Protection Act, 2023. You will adhere to Finvasia’s privacy policy and provide a privacy policy for your end user that is clear, accurate and includes all necessary terms from these Terms.

  1. 4) Prohibitions and confidentiality
  2. a) API Prohibitions

When using the APIs, you may not (or allow those acting on your behalf to):

  • • Sublicense the APIs for use by a third party
  • • Perform an action with the intent of introducing to Finvasia’s products and services, any viruses, worms, defects, Trojan horses, malware, or any items of destructive nature.
  • • Defame, abuse, harass, stalk, pornographic, paedophilic, threaten others, or harm national security.
  • • Interfere with or disrupt the APIs or the servers or networks providing the APIs
  • • Promote or facilitate unlawful online gambling or disruptive commercial messages or advertisements
  • • Reverse engineer or attempt to extract the source code from any API or any related software, except to the extent that this restriction is expressly prohibited by applicable law.
  • • Use the APIs to process or store any data that will in turn invade the privacy of the end user.
  • • Remove, obscure, or alter any Finvasia terms of service or any links to or notices of those terms.
  1. b) Confidentiality

Your credentials (such as passwords, API keys, and Client IDs) are intended to be used only by you. You will keep your credentials confidential and make reasonable efforts to prevent and discourage other API Clients from using your credentials. Further, you will be solely responsible for enforcing all required cyber security measures as per applicable law.

Finvasia’s communications to you may contain confidential information which includes any materials, communications, and information that are marked confidential or that would normally be considered confidential under the circumstances. If you receive any such information, then you will not disclose it to any third party without Finvasia’s prior written consent, or where required by law (on informing Finvasia as soon as information is called for).

Unless expressly permitted by Finvasia or by the applicable laws, you will not, and will not permit your end users or others acting on your behalf to, do the following with content returned from the APIs.

  • • Scrape, build databases, or otherwise create permanent copies of such content, or keep cached copies with the intent of redistributing.
  • • Copy, translate, modify, create a derivative work of, sell, lease, lend, convey, distribute, publicly display, or sublicense to any third party.
  • • Misrepresent the source or ownership; or
  • • Remove, obscure, or alter any copyright, trademark, or other proprietary rights notices; or falsify or delete any author attributions, legal notices, or other labels of the origin or source of material.
  1. 5) Audit

A) You agree to maintain complete and accurate trails, books, records, and logs (either online or offline) to demonstrate compliance with the Terms and applicable law. You will be required to maintain these logs for at least 5 years (or as per applicable law). You will allow Finvasia, on a prior notice of at least fourteen (14) days, to inspect and audit your books, API usage trails, electronic devices and equipment used, and/or your office. You also agree to provide any information required by Finvasia. This may be for any of the following reasons:

  • • To ensure you are in compliance with applicable law and/or the Terms,
  • • For our internal audit purposes,
  • • For compliance with applicable law, including data protection and cybersecurity law,
  • • For any audit conducted by SEBI/stock exchanges of Finvasia, and
  • • For any information required by SEBI/stock exchanges.

B) We may provide a shorter notice in case SEBI/stock exchanges arrange an audit or require information from us within a period shorter than 14 days. In this case, we will endeavour to inform you as soon as reasonably possible.

  1. 6) Costs and revenue
  2. a) Costs

Finvasia may charge you for using the APIs, or parts of it selectively. These charges may be fixed or variable, and are at the sole discretion of Finvasia. Finvasia may also propose additional charges to you, (based on your usage of the APIs and on a case-by-case basis) for the continued use of the APIs. You may write to the relevant department to discuss a pricing suitable for you (Finvasia may decline or accept such a request based on various factors). The charges shall be communicated separately to you in writing.

  1. b) Non-refundable charges

Any charges once paid (one-off or on-going) for the use of APIs or any of its subsets are non-refundable.

  1. b) Sharing of revenue

Finvasia may share revenue with You (bound by the terms set forward by various exchanges and SEBI) for referring clients to Finvasia via the API, or for offering other services. This will be communicated separately in writing to You. You may write to us to discuss a revenue sharing model you desire (Finvasia may decline or accept such a request based on various factors).

  1. 7) Liability of the APIs
  2. a) Uptime

The API response and account access times may vary due to a variety of factors, including, but not limited to, trading volumes, market conditions, system performance, technical and other factors. Market volatility, volume and system availability may delay account access and trade executions.

The uptime and availability of the APIs may be affected by technical or other factors within or outside of Finvasia’s control, or unforeseen circumstances including natural disasters.

  1. b) No guarantees or warranties

Finvasia does not make any promises, commitments, guarantees about the APIs or related offerings. When permitted by law, Finvasia, will not be responsible for any losses including lost profits, revenues, or data; financial losses; or indirect, special, consequential, exemplary, or punitive damages. To the extent permitted by law, Finvasia excludes all warranties, guarantees, conditions, representations, and undertakings.

  1. c) Limitation of Liability

When permitted by law, Finvasia will not be responsible for lost profits, business revenues, goodwill or data; financial losses; or indirect, incidental, remote, special, consequential, exemplary, or punitive damages. In all cases, Finvasia will not be held liable for expense, loss or damage that is not reasonably foreseeable, and in any event, the liability of Finvasia arising out of the Terms and your usage of the website and/or the APIs shall not exceed INR 100 (Indian Rupees One Hundred Only).

  1. 8) Intellectual Property

A) All intellectual property including in relation to the APIs, including documentation, the Finvasia website and applications, including any software, techniques and processes used, and any trademarks, logos, images, material, content, designs, information and other content available on the website belongs exclusively to Finvasia or is licensed to Finvasia. By no means is any proprietary right or license in any intellectual property impliedly or expressly granted by Finvasia to the Client or any other user of the website and apps (Together ―User) through your use of the website, except as specifically provided under the Terms or any other Agreement between you and Finvasia.

B) Finvasia hereby grants to You a non-exclusive, non-transferable, limited right to use the Finvasia logo to the extent only as permitted and communicated to you by Finvasia (including via email), for the Term of this Agreement and for use within the territory of India. Finvasia hereby grants to the Service Provider a non-exclusive, non-transferable, limited right to use the Finvasia logo to the extent only required for creating and publishing Content, for the Term of this Agreement and for use within the territory of India.

C) Users shall not copy, decompile, reverse engineer, or otherwise attempt to discover any source code, license, use or assign any intellectual property in the website, copy any logos, brand names, marketing or branding material or pictures from the website, remove any copyright and other proprietary notices contained in any content on the website, or use spiders, crawlers or robots for the purpose of accessing the website, or any content on the website.

D) Any unauthorized use of Finvasia’s intellectual property rights in connection with any other good, service or offering will constitute an infringement of the intellectual property rights of Finvasia and may be actionable under the applicable laws.

  1. 9) Termination

A) This agreement is effective until terminated. User rights under this agreement will terminate automatically or otherwise cease to be immediately effective if the user fails to comply with any applicable law or all Terms under this agreement or applicable to the User, and fails to correct such default within ten (10) days after written/email notice thereof from Finvasia. Upon termination, Finvasia shall not have any liability or other obligation to you for any claims.

B) If you want to terminate the Terms, you must provide Finvasia with prior written notice of at least 15 days and upon termination, cease your use of the applicable APIs, use of Finvasia brand and delete any cached or stored content that was permitted by the cache header.

C) Finvasia has the right to terminate the Terms without cause effective immediately (this may be with or without notice). The right of Finvasia to terminate or suspend the user’s account is in addition to any remedy or obligation prescribed by applicable law. If the user is aggrieved by any act of Finvasia in this regard, the user may write to Finvasia as per the grievance redressal policy as laid down in these Terms, with supporting documentation/evidence. Finvasia may deal with the grievance in accordance with applicable law. The decision of Finvasia to reinstate services is final.

  1. 10) Indemnification

You agree to indemnify and hold Finvasia and their parent companies, members, subsidiaries, affiliates, service providers, syndicators, distributors, licensors, officers, directors and employees, against all liabilities, damages, losses, costs, fees (including legal fees) and expenses relating to any allegation or third – party legal proceeding to the extent arising from:

  • • Technical faults or the limitations of the APIs.
  • • Your misuse or your end user’s misuse of the APIs.
  • • Your violation or your end user’s violation of the Terms;
  • • Your/your end user’s violation of any applicable law; or
  • • Any content or data routed into or used with the APIs by you, those acting on your behalf, or your end users.
  1. 11) Grievance redressal

If you have any grievances, please contact our grievance officer on the email ID [email protected]. This shall be the Compliance Officer of Finvasia, name: Ramanjeet Kaur. The grievances will be acknowledged within 24 hours of the complaint and disposed within 15 days of receipt.

  1. 12) Governing law/forum

This Agreement shall be governed and interpreted by the laws of the Union of India.

In the event any dispute or difference arises between You and Finvasia in connection with the validity, interpretation, termination and implementation or alleged breach of any provision of the Terms (―Dispute‖), both Parties hereto shall endeavor to settle such Dispute within a period of 30 days, amicably with each other and in good faith.

Upon failure to amicably settle any Dispute, the User must give written notice to Finvasia and refer the Dispute to be resolved by arbitration to be conducted by sole arbitrator, mutually appointed by both the parties to settle the Dispute. The arbitration proceedings shall be conducted in accordance with the rules of the Mumbai Centre for International Arbitration. If both Parties are unable to mutually agree upon an arbitrator, the Mumbai Centre for International Arbitration shall appoint the sole arbitrator. The venue and seat of arbitration shall be Bangalore, India. The arbitration proceedings shall be conducted in English. The arbitral award shall be substantiated in writing.

The courts in Chandigarh shall have the exclusive jurisdiction for the resolution of any disputes hereunder or arising from your use of the website and/or APIs. Both parties hereby consent to such personal and exclusive jurisdiction.

Finvasia Member of NSE & BSE,MCX,NCDEX — SEBI Registration no.: INZ000176037 | Registered Address: Finvasia, # Finvasia Centre, D 179, Industrial Area, Sector 74, SAS Nagar, Punjab 160055

DISCLAIMER: CAPITAL MARKETS, TRADING, AND INVESTMENTS HAVE INHERENT RISKS. PLEASE MAKE SURE YOU UNDERSTAND THE RISKS INVOLVED AND CAREFULLY READ THE RISK DISCLOSURE DOCUMENT AS PRESCRIBED BY SEBI | ICF BEFORE PARTICIPATING IN THE MARKETS.

  1. 13) Miscellaneous

Waiver:

The failure of Finvasia to exercise any right provided herein or available under applicable law shall not be deemed a waiver of any further right hereunder.Waiver of any right by Finvasia shall not be deemed to be a waiver of any further rights of Finvasia. The exercise by Finvasia of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.

Survival:

When the Terms end, those terms that by their nature are intended to continue indefinitely will continue to apply, including but not limited to Confidentiality, Intellectual Property, and Indemnity.

Conflict:

In the event there is any conflict between the Terms, the Privacy Policy, any other policies applicable to whole or part of the website or Finvasia’s services and offerings to You, and agreements entered into between Finvasia and You, the following order of prevalence shall apply: (i) agreements between Finvasia and You, (ii) any product or service-specific terms and policies, (iii) the Privacy Policy, and (iv) the Terms.

  1. 14) Contact Us

Please reach out to [email protected] if you have any questions or concerns regarding the Terms.

Exchange terms & conditions:

1. The client is expected to be fully aware of the risks associated with the market and the financial instruments being traded on stock exchanges through API/ALGO PROVIDER. The client shall be responsible for complying with laws, rules, regulations, notifications etc issued by regulatory authorities as may be applicable from time to time.

2. The client shall ensure that API/ALGO PROVIDER facility provided by the Broker is used only to execute the trades of the client and shall not be used for transactions on behalf of any other person / entity.

3. The client shall be responsible for ensuring that, only persons authorized by it shall access and use the API/ALGO PROVIDER facility provided by the Broker. All orders originating from such facility / system shall be deemed to be authorized by the client.

4. Where the client accesses or proposes to access the Broker’s API/ALGO PROVIDER platform through external applications, including but not restricted to services of third party service provider(s), own application(s), etc., the client shall ensure that such applications have adequate security features including but not limited to access controls, password protection etc; and that appropriate agreement(s) with such third party service provider(s) etc. for ensuring secured access and communication has been executed and are in place.

5. The client shall ensure that no person authorized by them to place orders through API/ALGO PROVIDER facility provided by the broker has been / is involved in any adverse action by any regulatory authorities in any jurisdiction.

6. The client shall provide the names of authorized individual users to the broker prior to placing API/ALGO PROVIDER orders.

7. The client shall not use or allow the use of API/ALGO PROVIDER facility to engage in any form of market misconduct including insider trading and market manipulation or conduct that is otherwise in breach of applicable laws, rules and regulation.

8. The client is aware that Algorithmic trading i.e. generation of orders using automated execution logic is governed by Algorithmic trading guidelines issued by SEBI and Exchanges and requires prior registration of the exchanges. The client shall ensure that new algorithms and changes to existing approved algorithms are not used through the API/ALGO PROVIDER facility without prior approval of concerned stock exchanges. The client shall ensure that it has necessary checks and balances, in place to identify and control dysfunctional algorithms and the Broker shall have the right to shut down the API/ALGO PROVIDER facility and remove any outstanding client orders in case of any suspected dysfunctional algo.

9. The client is aware that authentication technologies and strict security measures are required for routing orders through API/ALGO PROVIDER facility and undertakes to ensure that the password of the client and/or his representative are not revealed to any third party.

10. The client shall be required to provide information/details/documents/records (physical or electronic) relating to Algorithmic Trading or incidental thereof within the prescribed time to Trading Member.

11. The client acknowledges that all orders placed by them through the API/ALGO PROVIDER facility would be validated by the risk management system of the broker. The Broker has the right to accept or reject any order placed by the client at its sole discretion.

12. The client shall be solely responsible for all acts or omissions of any person using a API/ALGO PROVIDER facility and shall be bound to accept and settle all transactions executed through the API/ALGO PROVIDER facility provided by the Broker notwithstanding that such order(s) may have been submitted erroneously or by an unauthorized user, or that its data is inaccurate or incomplete when submitted, or the client subsequently determines for whatever reason that the order should not have been submitted.

13. The client shall notify the Broker in the event of API/ALGO PROVIDER facility being compromised. Upon receipt of this notice, client’s API/ALGO PROVIDER facility shall be promptly disabled but the client shall continue to be responsible for any misuse of the API/ALGO PROVIDER facility or any orders placed through the API/ALGO PROVIDER facility as a result of the compromise of the API/ALGO PROVIDER facility at their end. The Broker shall not be liable for any loss, liability or cost whatsoever arising as a result of any unauthorized use of API/ALGO PROVIDER facility at the client’s end.

14. In the event of winding-up or insolvency of the client or his otherwise becoming incapable of settling their obligation, broker may close out the transaction of the client as permissible under bye-laws, rules, regulations of the exchanges. The client shall continue to be liable for any losses, costs, damages arising thereof.

15. The client is fully aware of the risks of transmitting orders to the Broker’s API/ALGO PROVIDER facility through vendor systems or service providers and the Broker is not responsible for such risks.

16. The client should be aware that he/she/they will have no recourse against the Trading Member or the Exchange Grievance Redressal Mechanismfor any failure of Algorithm, dysfunctional Algorithm, losses arising on account of use of such Algorithmic Software / strategies.

17. The client should be aware of the fact that neither the API/ALGO PROVIDER facility will be uninterrupted nor error free nor the results that may be obtained from the use of the service or as to the timeliness, sequence, accuracy, completeness, reliability or content of any information, service or transaction provided through API/ALGO PROVIDER. The API/ALGO PROVIDER facility service is provided on an "as is", "as available" basis without warranties of any kind, either express or implied, including, but not limited to, those of information access, order execution, merchantability and fitness for a particular purpose. The Broker shall not be liable for any loss, damage or injury including but not limited to direct lost profits or trading losses or any consequential, special, incidental, indirect, or similar damages from the use or inability to use the service or any part thereof.

18. The Broker shall have the right to withdraw the API/ALGO PROVIDER facility in case of:-

  • • Breach of the limits imposed by the broker or any regulatory authority.
  • • On account of any misuse of the API/ALGO PROVIDER facility by the client or on instructions from SEBI/Exchanges.
  • • Any other reason, at the discretion of the broker

Broker shall endeavour to give reasonable notice to the client in such instances.

19. The Broker shall not be liable or responsible for non-execution of the orders of the client placed using the API/ALGO PROVIDER facility due to any link/system failure at the client/ Broker/ exchange(s) end.

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