NCDEX launches NextGen trading system for market development

National Commodity and Derivatives Exchange Ltd. (NCDEX), India’s leading commodity exchange, today announced the launch of NextGen – a new trading and surveillance system that will bring greater convenience, speed, safety and transparency to the market.
The NextGen system, among the country’s fastest trading systems, will bring a more dynamic experience to users, with features such as tick-by-tick broadcast and ease of executing complex trading strategies. It will speed up order execution by five times. It will also be better suited to offer products such as options and indices, besides handling high frequency/algo trading. Additionally, it will be able to execute regulatory changes more quickly and cost-effectively, which will assist in efficient intra-day closure, pre-order checks and order flow monitoring.

Samir Shah, Managing Director and CEO, NCDEX, said, “At NCDEX, we passionately believe in the value of markets and the power of innovation. That makes technology the beating heart of our company. As Indian commodity markets enter the next phase of growth under SEBI, a powerful technology such as NextGen will make it easier for a wider swathe of customers, including farmers, to connect with our safe, open and agile ecosystem across the trade lifecycle and gain competitive advantage. Price discovery and risk management will always be a basic customer need. That is what connects us to the real economy. And that is why I am optimistic that our industry has a bright future.”

Fortified with a large processing capacity of 1,000 orders per second (which can go up to 3,000 orders per second), the NextGen system supports FIX protocol, which is the industry norm. Built on highly specialized fault-tolerant technology, its replica processes ensure uninterrupted trading even in the face of software or hardware outages.

It has been developed by MillenniumIT, the leading ultralow-latency technology provider and part of the London Stock Exchange Group.

Since inception, NCDEX has constantly strived to increase market efficiency and transparency through technology that elevates performance and is easy to use. Technology-based offerings from the Exchange, such as the electronic accounting system Comtrack, the online ‘Book My Warehouse’ service, use of RFID tags in Exchange accredited warehouses, mobile apps for price dissemination, and Nextra data terminal are re-defining standards and raising the bar within the commodity sector.