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The National Commodity and Derivatives Exchange (NCDEX) has adopted a new trading and surveillance system NextGen to bring in greater speed and transparency.
The new system has features such as tick-by-tick broadcast and ease of executing complex trading strategies. It will speed up order execution by five times and well suited to offer products such as options and indices, besides handling high frequency/algo trading, said the exchange. Additionally, it will help execute regulatory changes more quickly and cost-effectively, it said.
Samir Shah, Managing Director, NCDEX, said as commodity markets enter the next phase of growth under SEBI, a powerful technology such as NextGen will make it easier for a wider swathe of customers, including farmers, to connect with the exchange and gain competitive advantage.
With a processing capacity of 1,000 orders per second (which can go up to 3,000 orders per second), the NextGen system supports FIX protocol, which is the industry norm.
It has been developed by MillenniumIT, the leading ultralow-latency technology provider and part of the London Stock Exchange Group.
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