The Bing Ads API is made up of multiple web services that together allow developers to manage their advertising campaigns hosted through Bing. Using the API, developers can create new advertising campaigns, and manage/edit existing campaigns. The API also supplies detailed reporting and statistics for developers to understand how ads are performing.
The Bing Ads API is now in Version 11. Currently it is only available is Sandbox environment. For more information on the changes and migrating to v11, go to: https://msdn.microsoft.com/en-us/library/bing-ads-api-migration-guide.aspx