group, today announced that Geojit Securities had selected Reuters online
equity solution to support its private investors trading business . The
solution will be implemented across the company's 75 branches in India.
Reuters will work with Geojit securities to deliver a Straight Through
Processing (STP) solution for branch and internet based retail equity
trading using TIBMercury Online (TMOL), Reuters order management and product
based on TIBCO ActiveEnterprise platform.
Geojit's dealers will be able to place trades via the trader terminals at
their branches and private investors will be able to place trades directly
on Geojit's website which will be routed to their main office and connected
live to the National Stock Exchange (NSE) and The Stock Exchange, Mumbai
(BSE). Geojit Securities, will be the first site in South Asia to use TIBCO
Mercury Online. This agreement marks Reuters entry into the equities trading
solution market in South Asia.
C J George, Managing Director, Geojit Securities said: "This partnership
with Reuters will enable Geojit securities to expand rapidly across our 75
branches and help us to manage our risks effectively, making our operations
more efficient by reducing errors and enabling integration from back to
front office.We wanted a solution that could support our branch and internet
based business and we chose TIBMercury Online product because it allows us
to further pursue our objective to provide better and faster services in the
area of order execution and management to our clients."
Mitya New, Reuters managing director, South Asia said: "We are delighted to
be given this opportunity to position our online equity solution offering to
Geojit, a leading brokerage company in India and its large network of
branches and retail investor baseTMOL will have centralized risk management
functions for clients across multiple cash and derivatives products,
multiple channels and exchanges."
This tailored solution, made up of technology, content and consultancy
services, will support the company in growing their online equity business.
It will help Geogit reach new markets in a shorter timeframe and, by
providing a clear view of order flow, enhance responsiveness to retail