TD Ameritrade’s open API, Veo, has been used to offer greater insight to traders through integration with third party applications and its own trading services (e.g. service accounts, process client data, money on demand, etc.). However, TD Ameritrade may have shown its true belief in the power of APIs with its acquisition of iRebal. By integrating iRebal’s rebalancing software with the Veo API, TD Ameritrade is able to remove tedious, manual processes that typically appear with rebalancing.
The acquisition and integration has already made its buzz throughout the financial industry. T3 Conferences’ Joel Bruckenstein commented: “I think it is significant since this is the first fully integrated rebalance … trading interface.” Chris Valleley(TD Ameritrade’s Director of Technology Solutions) affirmed this notion, stating: “Using an API approach to integrate iRebal with Veo has really allowed us to reinvent the rebalancing process on the TD Ameritrade Institutional platform.”
iRebal utilizes Veo’s open API, “allowing the rebalancing technology to process trade orders straight through to a custodial platform.” This process allows investors to use TD Ameritrade’s platform to review their portfolio and rebalance, manage cash, and make other tactical trading decisions.
The integration of Veo with iRebal is a groundbreaking mashup that brings complex trading tools to average investors. In addition to individual portfolio management, iRebal allows white-labeled services which allows portfolio managers to offer iRebal services to its customers under their own brand. TD Ameritrade has truly embraced APIs and the financial trading industry has taken another step towards a level playing field.