Covestor, the portfolio-sharing community, is making moves to launch an API. In doing so, covestor now lets you export your investment performance and broker data for your own use. This means that you have more control over your trading information. This exported data is available in XML, RSS and CSV format, and can be used for a mashups, used in Excel or other spreadsheet applications, or simply used for other websites.
MyTrade has already begun to take advantage of the new application, and has integrated a covestor pod on its site that lets you see your live portfolios without having to manually update a stock Watch List, which is still required for tools like Marketwatch and Yahoo Finance. This new offering is only the first step towards the launching of a full API. Covestor will soon launch its full API for developers to create more applications that are integrated with covestor information and tools. The company was recently funded for an undisclosed amount.
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