Chicago-based Trading Technologies will double its manpower at resource centres in Pune and Ahmedabad, in India over the next 12 months and plans to set up a sales office in Mumbai in 2024, according to a top company official.
"Today, we have some 45 people in Pune and Ahmedabad. We will double in size over the next 12 months," Trading Technologies Chief Executive Officer Keith Todd told PTI on the sidelines of FIA Asia 2022, a derivative trade conference led by Futures Industry Association.
"Majority of the staff at the resource centres are software professionals and others are providing technical support," he said, adding that Trading Technologies have been operating from India for seven years.
The Mumbai sales office will be the next stage of expansion for providing technologies to the Indian stock market, he added.
Trading Technologies' recent participation in the large joint venture between National Stock Exchange and Singapore Exchange is for providing its "Connect" system for the trading of Nifty contracts.
The NSE IFSC-SGX Connect is expected to be fully operational from the second quarter onwards of the next year with dollar-denominated Nifty contracts to be exclusively traded on NSE IFSC.
Trading Technologies provides connectivity to more than 50 global derivatives markets, including NSE, Todd pointed out.
In early August, Trading Technologies had successfully launched day-one connectivity to the new joint initiative between SGX Group and NSE for international Nifty equity derivatives trading.
"I am optimistic about India, it has a good talent pool, traders and developers. Looking forward to developing an in-country team," said Todd, who has spent roughly half of his 40-year career on SaaS, spanning global technology businesses from publicly-listed and large multinational companies to startups.
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