Mumbai, 19th Oct, 2010: OMNESYS Technologies Pvt. Ltd, a leading technology provider of trading systems in India, has become an approved Independent Software Vendor (ISV) on the United Stock Exchange of India (USE). USE is India’s newest stock exchange for currency derivatives. The exchange offers a better platform to corporates and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk. Bombay Stock Exchange is also a strategic partner with USE as it holds a 15% stake and all its members are connected to the new USE platform.
Shrikant Pandit, Managing Director of OMNESYS said, “We are delighted to be an approved software provider on USE. OMNESYS has a wealth of experience and expertise in providing trading solutions to financial institutions and commodity participants as a result of being an empanelled software provider on leading Indian exchanges. Our flagship product OMNESYS NEST has been deployed by many brokerage houses across India and we now look forward to serving the trading members of USE”.
“OMNESYS NEST is used by top institutions to access various Indian stock and commodity exchanges. OMNESYS provides market data and connectivity solutions to both buy-side and sell-side firms and the trading system is available either as a hosted solution or a ‘Software as a Service’ (SaaS) solution” added Shrikant Pandit.
Speaking on the benefits that OMNESYS will bring USE members, Mr. Narayanasami, CEO & MD, United Stock Exchange of India, said, “We are pleased that Omnesys Technologies is ready to go live with the trading software. For the exchange to reach to a wide audience, the role of independent software vendors is very important. We hope that with Omnesys on board, we would be able to better service our members.”
OMNESYS NEST™ provides a multi-asset, multi venue trading system, including an Order Management System and comprehensive pre-trade risk management systems. It supports various types of front ends, automated trading systems and algorithms. The product suite also provides Financial Information eXchange (FIX) execution capabilities and APIs for both buy and sell side firms.
OMNESYS head office is based in Bangalore, India. It also has offices in Mumbai, New Delhi, Kolkata and Mangalore.