The Hindu Business Line : Financial Technology sets up financial services subsidiary

Mumbai April 9 Financial Technologies has set up a new subsidiary - TickerPlant Infovending Ltd - to provide real time data, news and analysis for the global and Indian financial markets. TickerPlant aims to create a digital infrastructure to aggregate news and disseminate real time ticker feed of over 100 market segments across the globe, Mr Dewang Neralla, co-founder of Financial Technologies and Director (TickerPlant Infovending), told a news gathering at the launch of the subsidiary.

"TickerPlant will provide e-feeds for Indian and international equities, commodities, precious metals, market rates and news. Our endeavour is to reach low-end retail investors and high-end decision makers," he said.

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TickerPlant will have an initial investment of Rs 25 crore. Financial Technologies will hold up to 76 per cent in the new venture, while strategic investors and other professionals will hold the remaining, added Mr Neralla. Mr Navin Kumar will be driving the business of TickerPlant as the Chief Operating Officer.

The services offered will also include a set of exclusive products and will be priced in the range of $100-$1,000 (Rs 4,500-Rs 45,000) per month, Mr Kumar said, adding that flexible schemes will be offered to attract a variety of customers.

TickerPlant has tied up with leading wires and newspapers and is looking at branding each service (like commodities, treasury and equity), said Mr V. Hariharan, Director of Financial Technologies.

The new company currently employs about 80 people and is based in Mumbai. "We are looking at increasing our headcount to 400 by the end of this year; we will employ journalists, analysts and people with domain knowledge," said Mr Hariharan.