API economy at present revolves around API hosting and management. The pre-requisite for API management, obviously, is to have APIs (Application Programming Interface) on the existing/new systems within the businesses. It is imperative to arrive at a methodology for designing, developing or extracting; and exposing such APIs around existing legacy systems. Extraction of APIs (API-fication) can be direct: a completely new application or platform leverages the legacy application for supplying to the APIs; and indirect: the legacy application hosts the API within itself.