Robinhood API Design: Endpoints for Onboarding, Funding, Market Data and Orders

Quick Overview

A technical product manager interview question asking which backend API endpoints a stock-trading app like Robinhood would need. It tests covering onboarding, funding, market data, orders and portfolio views, plus order idempotency, real-time streaming, security and regulatory constraints.

Robinhood API Design: Endpoints for Onboarding, Funding, Market Data and Orders

Company: Robinhood

Role: Product Manager

Category: System Design

Difficulty: medium

Interview Round: Other

Robinhood's mobile and web apps run on backend APIs. What are some of the endpoints you would expect Robinhood to have? ```hint Before the first trade List what a new customer has to do before they can buy anything, and separate the calls that move money or create orders from the calls that only display data. ``` ### Clarifying Questions - Do you want the endpoints the customer app calls, or also internal ones, such as those that send orders to trading venues? - Which products are in scope: stocks and ETFs only, or also options, crypto and retirement accounts? - How much detail do you want: a list of resources, or the request, response and error cases for one important endpoint? ### What a Strong Answer Covers - The core domains: sign-in and identity verification, bank linking and transfers, market data, orders, and positions and account history - Correct API mechanics, with authentication suited to a financial app (multi-factor sign-in, short-lived tokens, step-up checks for sensitive actions) - Depth on placing an order: order types, validation such as buying power, idempotency, and an asynchronous status lifecycle - Separating streamed real-time data (quotes, order updates) from request and response calls, and what to protect when load spikes - How regulation and risk shape the API: identity checks, trading restrictions and record keeping ### Follow-up Questions - A customer taps Buy, the request times out and they tap again. How do you prevent a duplicate order? - On a day of extreme market volatility, traffic surges. Which endpoints do you protect first, and how? - A customer cancels an order at the same moment it fills. What should the cancel endpoint return?

Overview: A technical product manager interview question asking which backend API endpoints a stock-trading app like Robinhood would need. It tests covering onboarding, funding, market data, orders and portfolio views, plus order idempotency, real-time streaming, security and regulatory constraints.

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Robinhood
Dec 4, 2024
mediumProduct ManagerOtherSystem Design
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Robinhood's mobile and web apps run on backend APIs. What are some of the endpoints you would expect Robinhood to have?

Clarifying Questions Guidance

  • Do you want the endpoints the customer app calls, or also internal ones, such as those that send orders to trading venues?
  • Which products are in scope: stocks and ETFs only, or also options, crypto and retirement accounts?
  • How much detail do you want: a list of resources, or the request, response and error cases for one important endpoint?

What a Strong Answer Covers Guidance

  • The core domains: sign-in and identity verification, bank linking and transfers, market data, orders, and positions and account history
  • Correct API mechanics, with authentication suited to a financial app (multi-factor sign-in, short-lived tokens, step-up checks for sensitive actions)
  • Depth on placing an order: order types, validation such as buying power, idempotency, and an asynchronous status lifecycle
  • Separating streamed real-time data (quotes, order updates) from request and response calls, and what to protect when load spikes
  • How regulation and risk shape the API: identity checks, trading restrictions and record keeping

Follow-up Questions Guidance

  • A customer taps Buy, the request times out and they tap again. How do you prevent a duplicate order?
  • On a day of extreme market volatility, traffic surges. Which endpoints do you protect first, and how?
  • A customer cancels an order at the same moment it fills. What should the cancel endpoint return?