![]() To follow along with the demonstration, you must install the latest long-term support (LTS) version of Node.js, which, at the time of writing, is Node.js 18. You'll develop the website in TypeScript using NestJS, a Node.js web framework for building server-side web applications. You can find the complete code for this website on GitHub. ![]() Here's an overview of the website architecture: You'll use Apperate for retrieving the financial information that your website will display. When the user clicks on a stock symbol, another page will load that shows the company's name, the stock's historical prices, and its price change over that time. The website will have a list of stock symbols that the user can edit in a side menu. ![]() Instead, it will query the most recent financial data using a REST API whenever a page is loaded. ![]() For simplicity, the demo website won't follow best practice by using an event bus to retrieve real-time data as explained above. You'll now learn how to incorporate financial data into your application by developing a server-side rendered financial stocks website. Likewise, digital trading applications that display live rates and charts or news sites that display live stock prices can use an event bus to push new data to them in real time. For example, an algorithmic trading platform can perform real-time calculations on data by using an event bus to receive the data as soon as it's available. It's the ideal architecture for real-time applications such as a financial app.Įvent buses are necessary for any application that requires real-time financial data. Event-driven architecture lets you build efficient applications that receive information about events as soon as they occur. This method of communication, called event-driven communication, is more efficient than polling, where systems have to repeatedly poll another system to find out if an event occurred. An event bus is a software system that lets different systems communicate using an event-based architecture-in other words, systems communicate events with other system components as they occur. If you're using a financial API to provide financial data to your application, you must understand the importance of planning for real-time data management so you can use the financial data sets provided by APIs effectively in your application.ĭue to the real-time nature of financial information, developers often use an event bus to push new data to an application in real time. Then, you'll use the financial API provided by IEX Cloud's Apperate platform to build a financial stock website using NestJS. First, you'll learn more about how to plan for and use real-time financial data in your applications. In this article, you'll learn how to incorporate financial data into your application. Financial APIs provide all these applications with the real-time financial data that they need. Even news sites sometimes incorporate live market data into their news articles to show how a stock mentioned in the article is currently performing. Digital trading applications also use real-time financial data to display stock or currency exchange rate graphs. For example, an algorithmic trading platform might need to perform complex calculations on financial data to decide whether to buy or sell a stock. Many business applications use financial data, and most of them require access to accurate real-time financial data to function effectively. A financial API lets you query financial data so you can use it in your applications without gathering and processing it yourself. The sheer volume of financial data that's collected and processed these days has led to companies specializing in collecting and processing financial data and then exposing them over an API. Financial data sets are collections of structured and unstructured data related to finance that include stock prices, exchange rates, and company earnings.
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