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This page covers the self-hosted local server. If you’re using a pmxt_api_key, you can ignore this page — the SDK talks to PMXT’s hosts directly and never spawns a local process. See Hosted trading.
When you create an exchange instance without a hosted API key, the SDK spawns a local pmxt-core server, waits for it to become healthy, and routes every request through it. You rarely need to touch the server lifecycle yourself. For setup, see Self-hosted. For the full server lifecycle API (start, stop, restart, status, health, logs) and environment variables, see the pmxt GitHub README.