About Managing API Versions and Instances (Nov 2017)
After you create an API in Design Center for example, you set a version name and publish it to Exchange. In this release, the version resides in Exchange, not API Manager. You then set up API Manager to manage the version.
In API Manager, you also create, import, and deprecate API instances.
On the API administration dashboard, you expand the API version name to display the instances if there are any:
You can use instances of an API in multiple environments, and you can have multiple instances in the same environment. You can create one instance of an API that serves as a proxy. You can create another to manage directly as a basic endpoint. You can apply caching policies to the proxy, for example, and throttling policies and security policies to the basic endpoint. For more information about API instance management, see "About Basic API Management Tasks (Nov 2017)" link below.
In addition to API instance management in API Manager, you can perform other API management tasks. You can promote an API to another environment and configure an API endpoint, for example.
In Exchange you add, delete, and deprecate API versions, which are called Exchange assets. An API version in Exchange can have its own RAML file, API Portal, and URL. For more information about API version management in Exchange, see "Anypoint Exchange" documentation.