Orc has unveiled new market gateways to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) as it seeks to provide low-latency connectivity for international traders and participants on India’s two largest exchanges.
Both domestic and international trading houses will be able to use Orc's connectivity and trading solutions to trade on both the NSE and BSE from a single user interface. Orc is now registered as a foreign internet software vendor (ISV) with the NSE and is an empanelled vendor of the BSE.
Both exchanges have launched Liquidity Enhancement Programs following regulatory and liberalisation changes announced by the Securities and Exchange Board of India (SEBI).
“Orc was the obvious choice for our trading solutions when we registered for the market making program with the BSE,” comments, Rajesh Baheti, managing director of the Crosseas Capital Services brokerage, a joint client of Orc and E2E Infotech (E2E). “In addition to the speed, Orc’s trading front end offers the rich functionality that our business needs for making markets on listed derivatives.”
According to Greg Chambers, regional president at Orc, establishing connectivity to the BSE and NSE reflects the technology firm’s continued commitment to expand in the Asia Pacific region. “We recognise the efforts made by the Indian exchanges to enhance liquidity in their listed derivatives products and to make their exchanges internationally available, and we are excited to play our part in this process,” he said.
Orc also recently completed a deal with Newside http://www.bobsguide.com/guide/news/2012/May/3/orc-shows-a-newside.html in an effort to expand into the French financial markets.