McObject®, developer of the eXtremeDB® In-Memory Database System (IMDS) and related product family, announced that NSE.IT, the wholly-owned IT consulting subsidiary of the National Stock Exchange of India (NSE), the third-largest stock exchange in the world by volume, has joined McObject as a Solution Provider. NSE.IT will provide integration, optimization, development and other services relating to eXtremeDB for clients developing capital markets solutions.
In this new role, NSE.IT leverages deep expertise it has gained over the past decade in consulting projects addressing a broad range of real-time financial IT challenges. Its background includes planning and implementing solutions for the buy side, sell side and market structure companies in financial markets – typically investment banks, brokerage houses, hedge funds, specialty trading firms, exchanges, and clearing and depository institutions.
Consulting clients with low-latency database needs will also benefit from NSE.IT’s experience developing its own high-performance financial software product with eXtremeDB. Last year, the firm’s engineers integrated the eXtremeDB IMDS to replace traditional relational database management system (RDBMS) software in performance-critical features of NSE.IT’s algorithmic trading solution based on the NeatXS trading platform. The firm credits the move to eXtremeDB with slashing order-processing latency to the sub-millisecond level in its Algo Solution, and delivering ultra-low latency to achieve higher throughput. Within Algo Solution, eXtremeDB provides real-time data management for functions including pre-trade risk management, post-trade risk re-computation and management of margins used at different levels.
“Real-time financial software is increasingly data-intensive. As a result, data management has become a key target for optimization and latency reduction in NSE.IT consulting projects. The eXtremeDB In-Memory Database System provides a powerful tool for achieving high performance while coping with the flood of data in financial systems, and as a Solution Provider we look forward to working with McObject and eXtremeDB on innovative low-latency solutions in diverse areas of capital markets technology,” said V.S. Kumar, NSE.IT’s president – Americas.
“NSE.IT brings a wealth of domain expertise in developing real-time capital markets applications, ranging from large-scale securities and commodity exchanges to trading simulators, wealth management, brokerage front and back office, and high frequency trading solutions. We look forward to the vital contribution they will make to enhancing our customers’ technology and expanding McObject’s presence in the financial sector,” said Chris Mureen, McObject chief operating officer.