SENSEX NIFTY
Jan 11, 2010, 05.06 PM IST | Source: Moneycontrol.com

BSE and Netmagic join hands for automated trading

Bombay Stock Exchange has announced its first Collocation facility at BSE premises with Netmagic Solutions Pvt. Ltd., one of the India's leading Managed IT Service Providers.

BSE and Netmagic join hands for automated trading

Bombay Stock Exchange (BSE) has announced its first Collocation facility at BSE premises with Netmagic Solutions Pvt. Ltd., one of the India's leading Managed IT Service Providers. This collocation facility will be extended to broker members and their customers to host their servers near to BSE’s trading platform within BSE premises and will facilitate faster trade execution especially for program trading.

Announcing this development, Mr Madhu Kannan, MD & CEO, BSE, said “The first collocation facility provided by Netmagic at BSE premises would help the broking community to host their servers for program trading near to our trading system. It would be exchange neutral and since the facility is extended by one of the best service providers in the industry, member would experience a world class facility at a very competitive cost that can be additionally used for placing orders on multiple exchanges”.

Sharad Sanghi, MD & CEO, Netmagic, added, "In the emerging era of Algorithmic trading, this partnership will provide mission critical hosting and proximity Infrastructure to Broking Community. This is a unique tie-up between leading exchange and a mission critical hosting service provider that will address the changing needs of online trading community".

About BSE: Bombay Stock Exchange is one of India’s leading exchange groups and has played a pre-eminent role in the development of the Indian capital market. BSE is a corporatised and demutualised entity, with a broad shareholder-base which includes two leading global exchanges, Deutsche Börse and Singapore Exchange as strategic partners.

BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and training. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, support the growth of the market in India, and stimulate innovation and competition across all market segments. The BSE Training Institute is at the forefront of educating market participants on currency and interest rate derivatives.

NETMAGIC: Netmagic Solutions Pvt. Ltd. is India's leading Managed IT Service Provider specializing in Internet Data Centers, Managed Hosting, Infrastructure Management Services, Application Services and Availability Services. More than 750 customers worldwide rely on them for ensuring high availability, seamless performance and security of mission critical Hosted Applications.

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