Omnesys Technologies announces tie-up with United Stock Exchange for Automated Trading

Published on August 3, 2011 by News Desk · 2 Comments

INVC,,

Mumbai,,

Bangalore based Omnesys Technologies, a leading provider of multi-asset trading software and systems and an Independent Software Vendor (ISV), has announced that United Stock Exchange (USE) – India’s specialist currency exchange, has increasing number of trading members opting for trading currency markets deploying algorithmic strategies and becoming active on the automated trading operations ‘NEST’ from Omnesys Technologies.NEST is a well-accepted Computer to Computer Link (CTCL) platform for trading and the flagship product of Omnesys. USE, headquartered in Mumbai, is India’s newest stock exchange for currency derivatives and has 415 registered trading members and 51 clearing members. USE has a growing market share of about 22% in just 10 months and with the average June volume being Rs. 10394 cr. Just recently, USE empanelled State Bank of India as a clearing and settlement bank.

Said Mr. Shrikant Pandit, Managing Director, Omnesys, “Omnesys is proud to be associated with USE on their automated trading initiatives for its members. NEST, our market leading platform, is designed to service customers with improved trading capabilities facilitating order management and execution capabilities. The current version of the software is equipped with appropriate tools that allow members to actively manage their trades”.

Mr. T.S. Narayansami, MD & CEO of USE said, “We are extremely delighted to announce that algorithmic trading has been picking up at our platform with more & more members expressing interest and opting for ATS operations through Omnesys to take advantage of opportunities that can be explored in currency markets presently. We are confident that Omnesys would be very useful for our members to trade in currency markets with proper risk management system in place.”