TD Ameritrade Institutional announced Jan. 6 that the firm would launch an application programming interface (API) to allow advisors to integrate their back office technology with TD Ameritrade's Veo trading and account management platform.

“Open access will allow advisors to exchange data with Veo from various systems, such as their CRM program, and initiate tasks that will automatically pull client data and aggregate information from other platforms ultimately streamlining common processes such as opening new accounts and quarterly reporting,” Jon Patullo, director of technology product management for TD Ameritrade Institutional, said in a press release.

Over a dozen technology providers have been involved in the development of the API, according to the company. Initial integration will include accessing client balances, positions and account alerts. Trading capabilities will follow in a later phase of integration.

"Releasing the API in December was the first and an instrumental step in opening up new opportunities for technology providers to integrate with TD Ameritrade. By opening up our API, we believe we can help speed the rate of innovation across the industry. We are currently collaborating with leading technology providers and will be announcing new integrated functionality starting in February," Patullo said by e-mail.

“Taking an open approach to technology integration supports our commitment to help advisors run more efficient and profitable practices by allowing them to use the software and tools that meet the unique needs of their firms,” Tom Bradley, president of TD Ameritrade Institutional, said in a press release. “We are excited to lead this industry-changing effort to create a flexible advisor platform that will be able to integrate nearly any technology system available to advisors.”