Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 24, 2006 |
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Markets
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Financial Services Info-Tech - E-Commerce & E-Business Geojit unveils new trading portal Our Bureau
Bangalore , Jan. 23 TRADING over the Internet has undergone a paradigm shift over the past few years. Geojit Financial Services, a Kerala-based financial services company, has joined the bandwagon of online trading portals with the launch of Mercury Online. "The new trend of individuals logging on and making transactions across many stock exchanges is encouraging. In the next 18 months, there will be a 10-fold increase in online trade," predicted Mr C.J. George, Managing Director, Geojit Financial Services. Mercury Online runs on four Sun servers based on UltraSPARC IV processors. This can handle up to 10,000 customers at a time, said Mr Rajesh Rege, Director, Sales, Sun Microsystems India. Geojit currently sees up to 7,000 trades per day and expects the volume of business transactions to ramp up to one lakh per day with the new infrastructure. The company has invested Rs 17.5 crore in Mercury Online. It currently resides in a central location, and eventually the 350 offices of Geojit will be integrated with it, said Mr George. Geojit Financial Services has 2.7 lakh clients and were facing a problem with scalability. The company has partnered with Wipro Infotech (systems integrator) and Reuters (for live news updates). The Web site will offer 128-bit encryption for security and also features a live interaction chart. Now, retail investors can trade seamlessly across markets without having to use different systems and risk management tools. It has 3,000 listed companies and offers real-time maintenance of your portfolios and orders. It also has a Research Desk that offers analysis and information on companies.
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