Market Maker API
Senticore provides dedicated endpoints, stream channels, and session controls for liquidity providers and market makers.
The Market Maker API is a complete institutional surface, not a thin wrapper around standard order entry. It includes bulk quote refresh, binary submission, execution receipts, tier limits, session management, cancel-on-disconnect, quote obligations, and drop-copy.
Why a separate surface
Standard order-entry endpoints process orders individually. Market makers need to refresh many quotes atomically with bounded latency. The Market Maker API provides:
- bulk quote refresh in a single operation
- binary bulk submission for latency-sensitive quote engines
- cancel-on-disconnect with configurable timeout
- drop-copy for execution replication
- two-sided quote obligation reporting
- mass cancel by symbol, side, or account
- lower-latency institutional access tiers
- maker incentives, rebates, and volume-tier reporting
Dedicated endpoints
| Endpoint | Purpose |
|---|---|
POST /api/v1/mm/orders/batch | Bulk quote refresh in one transaction |
POST /api/v1/mm/orders/batch.bin | Binary bulk quote submission |
POST /api/v1/mm/orders/replace | Replace an existing maker order |
POST /api/v1/mm/orders/cancel-replace | Atomic cancel and replace |
GET /api/v1/mm/receipts | Execution receipts and acknowledgement history |
GET /api/v1/mm/limits | Tier limits and current throughput envelope |
GET /api/v1/mm/sessions | Market-maker session state |
POST /api/v1/mm/sessions/cancel-on-disconnect | Configure stale-quote protection |
GET /api/v1/mm/markets/{id}/quote-obligations | Two-sided quote obligations by market |
GET /api/v1/mm/dropcopy | Drop-copy stream metadata |
Operation categories
| Operation | Purpose |
|---|---|
| Bulk quote replace | Cancel and place multiple orders atomically per market |
| Binary submission | Submit quote refreshes with lower parser overhead |
| Cancel-replace | Amend price or size without exposing stale quotes |
| Mass cancel | Cancel by market, side, account, or session |
| Auto-cancel heartbeat | Cancel stale orders when a strategy disconnects |
| Drop-copy | Replicate execution reports to downstream OMS and risk systems |
| Quote obligations | Track required two-sided market-maker quoting behavior |
| Incentive query | Current maker tier, rebate rate, and volume targets |
Cancel-on-disconnect
Market makers can configure account-level or market-level auto-cancel:
{
"timeoutMs": 5000,
"scope": "account"
}
When the heartbeat is missed for timeoutMs, all open orders in scope are
cancelled. This protects both the venue and the liquidity provider from stale
quotes.
Eligibility
The Market Maker API requires institutional onboarding. Credentials can include permission scopes, IP allowlists, rate-limit tiers, and co-location profiles.