Consulting firm Gartner said earlier this year that public, web-based application programming interfaces (APIs) have fallen into what it terms the “trough of disillusionment”—the point on the hype cycle where the excitement around a particular trend or technology has worn thin and investment falls off. Gartner’s pessimism, however, doesn’t seem to have rubbed off on many in the capital markets, as asset managers, banks, data vendors, and service providers have been eager over the last year to