United Stock Exchange of India Limited today announced the selection of Marketplace Technologies and Omnesys Technologies, leading providers of front-office trading solutions in all leading exchanges of India.
In addition to offering the standard exchange front-end trading software, USE members will now have an additional option to get the trading software from Marketplace Technologies or Omnesys Technologies. These software solutions shall allow the members to view and trade on multiple exchange platforms on the same screen. This will encourage market participants to implement trading strategies such as arbitrage.
Commenting on the development, Mr. T.S. Narayanasami, Managing Director & CEO of the United Stock Exchange, said: “USE is pleased to announce the empanelment of Omnesys Technologies and Marketplace Technologies as independent software vendors, or ISVs. The vendors will help us in providing easy access to the USE trading platform for the member community, thus enabling more liquidity and participation. Through this we aim to give our customers a world-class user experience.”
Marketplace Technologies, a 100 percent subsidiary of Bombay Stock Exchange Limited, is already ready with the software, and Omnesys Technologies will shortly roll out its solution as well. Omnesys Technologies, in which the National Stock Exchange of India holds a 26 percent stake through a subsidiary, is a leading provider of complete integration solutions.
Members of the Exchange are also allowed to develop their own trading front-end in-house (CTCL/IBT) software using the Application Programming Interface (API) provided by the Exchange or develop CTCL/IBT software from “non-empanelled” vendors.
