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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (8902)	10/25/1999 1:44:00 AM
From: Mohan Marette	of 12475

Internet Trading- NSE to launch its IT subsidiary in Nov The National Stock Exchange will launch its information technology subsidiary in the first week of November, two months ahead of schedule. The subsidiary will be called NSE.IT. It would provide a cost-effective computer-to-computer link product with an Internet-enabled trading solution. This would be the first Internet-enabled product of its kind in the market, which NSE officials say would pave the way for expansion of brokers across the country and lay the platform for Internet trading in India. The new product would be available for demonstration in a week. The product will come in two versions. One will allow a broker to connect up to 100 terminals to his network and the other will allow 50 terminals. The platform would allow an investor to see the NSE trading screen at his end by connecting to the broker's site through the Net. This would allow NSE members to launch their services immediately after the Securities and Exchange Board of India gave its go-ahead to Internet trading. The CTCL product will have features that will enable a broker to track the business from each branch as well as at the level of each client. Scrip wise alerts would also be available. For example, the system will throw up alerts the minute a particular scrip is approaching its price band so that the broker can take necessary action. The product could be customized as well to suit each broker's need. The product will also provide the facility of a ready developed interface between the broking office and the concerned bank or the depository participant. "One of the key reasons for setting up the IT subsidiary is to cater to the IT services and product demand of our members. They felt that the service that the current vendors were proving them was too costly and was also not available across the country. We have now been able to develop a highly cost effective CTCL product which will in addition to the existing products in the market also provide an Internet-enabled trading software," said a top NSE source. Other sources said that the product has been developed with outside support. Source : MI Oct 25, 1999

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