Terms & Conditions

1. Introduction

Bigul Connect is a comprehensive API framework that allows clients to integrate trading, data broadcasting, and algorithmic execution systems directly with Bigul's trading infrastructure.

By using Bigul Connect, clients agree to follow all rules mentioned here, as well as SEBI circulars and Exchange regulations concerning Algo and API-based trading.

These terms ensure operational transparency, market integrity, and secure technology use.

2. Eligibility

• The client or Vendor must have an active and fully KYC-verified trading account with Bigul.
• API access is available only to authorized clients who have accepted these Terms & Conditions.
• Clients must ensure compliance with SEBI and Exchange guidelines before using APIs for live trading.
• Institutional clients must use APIs through authorized users or representatives.

3. API Access and Authentication

• Each client will receive a unique API Key, Secret Key, and TOTP credentials.
• These credentials authenticate your connection to Bigul's trading servers.
• Static IP Address is mandatory for all live and production access to prevent unauthorized entry.
• Credentials are confidential and must not be shared, stored in public code, or embedded in third-party applications.
• Any misuse or unauthorized sharing may lead to immediate access suspension.

4. Order Rate & Algo Limits

Bigul Connect distinguishes between Registered and Unregistered Algos as per SEBI guidelines.

Key Notes:

• Unregistered Algos can operate in the Live Environment, provided they remain below 10 orders per second per API key.
• If the order rate crosses this threshold, the algo must be registered and empanelled with the Exchange.
• Bigul continuously monitors order flow, latency, and anomalies for compliance.
• Breaches of rate limits may result in order throttling, suspension, or permanent API deactivation.

4. Order Rate & Algo Limits

• Clients intending to deploy algos that exceed rate limits must register them with the Exchange and obtain an Algo ID and Category.
• Algo registration details must be submitted to Bigul Compliance for validation before live activation.
• Any change in logic, vendor integration, or deployment structure requires re-approval.
• Unregistered Algos are allowed for Live Trading, Paper Trading, and Backtesting, as long as they stay within prescribed limits.
• Vendor must maintain logs and audit trails for each order request and response, as per regulatory standards.

6. Environment Access

Bigul provides multiple environments for testing and production use.

This structure ensures clients/Vendor can test, validate, and deploy strategies responsibly before live trading.

7. Client Responsibilities

Each client using Bigul Connect agrees to:

• Use APIs only for legitimate, compliant trading purposes.
• Protect and not disclose API credentials to any third party.
• Ensure that systems and strategies do not overload Bigul's infrastructure.
• Retain complete API activity logs and order records for at least the regulatory minimum period of 5 year.
• Inform Bigul immediately in case of key compromise, unauthorized usage, or security breach.
• Abide by all operational limits, compliance requirements, and rate-control policies defined by Bigul.

8. Security and Monitoring

• Bigul mandates TOTP-based two-factor authentication for every API login.
• IP-based access control prevents unauthorized connectivity.
• All data transmission must occur over HTTPS/TLS encrypted channels.
• Continuous monitoring detects abnormal order flow, system abuse, or unauthorized behavior.
• Bigul may temporarily suspend API keys if any unusual or non-compliant activity is observed.

9. Suspension and Termination

API access may be suspended or revoked under the following conditions:

• Breach of SEBI/Exchange regulations or Bigul policies.
• Abnormal trading activity or misuse of order capabilities.
• Credential compromise or unauthorized integration.
• Technical or security threat to Bigul's systems.

Upon detection:

• Bigul will issue an API Suspension Notification Email to the registered user / empanelled Vendor.
• Access will be reinstated after issue resolution and compliance clearance.

10. Disclaimer and Limitation of Liability

• Bigul provides API services on an "as-is" and "best-effort" basis.
• Bigul is not liable for:
  • Exchange outages, delays, or technical failures.
  • Client-side code errors or integration issues.
  • Order rejections or losses due to incorrect input or logic.
• Clients bear full responsibility for all orders placed via their API credentials.

11. Data Privacy and Confidentiality

• All data exchanged through Bigul Connect is governed by Bigul's Privacy Policy.
• Clients must ensure data obtained via APIs is used solely for authorized purposes.
• Redistribution or resale of market data or trade information is prohibited.
• Bigul adheres to applicable data protection laws, including the Digital Personal Data Protection Act (DPDP Act), 2023.

12. Updates and Modifications

• Bigul reserves the right to update these Terms, API specifications, or usage limits at any time.
• Clients will be notified via email or dashboard alerts.
• Continued API usage constitutes acceptance of the revised terms.

13. Governing Law

• These Terms are governed by Indian laws.
• Any dispute shall fall under the jurisdiction of Mumbai courts.

14. Client Acceptance Declaration

By proceeding, I confirm that I have read and understood the Bigul Connect Client Terms & Conditions and agree to comply with SEBI, Exchange, and Bigul policies governing API and Algo usage. I understand that violation of these terms may result in suspension or termination of API access.