Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
After the National Stock Exchange (NSE) said it was shutting down its ‘free’ internet trading platform NOW, tech company 63 moons technologies said it will offer a 50 per cent discount to brokers on its trading software. The move was reminiscent of the old days of fierce competition between the NSE and Financial Technologies (former name of 63 moons).
Financial Technologies rose on the back of huge revenues from sale of trading software to brokers between 2000 to 2008. It went on to launch two exchanges, MCX and MCX SX. In 2008, the NSE launched its online trading platform NOW and offered it free of cost to brokers to connect to the exchange. The NSE also purchased a stake in Omnesys that provided trading solutions. It undercut FT’s ODIN software which had a monopoly till then.
However, on Monday, the NSE said that it felt the time had come for the exchange to step back from offering trading solutions to brokers since most in the markets had developed their own technology. Still, Omnesys, which was bought over by Thomson Reuters, BSE’s software BSE-on-web and ODIN provide market access software to brokers.
There are more than 800 brokers on the NSE and around 1,200 on the BSE. Brokers catering to the retail category still depend on software vendors, while large institutional brokers have developed their own technology.
“63 moons technologies has decided to stand shoulder-to-shoulder with brokerages, in this time of Covid-19 crisis which has got further compounded due to the NSE deciding to shut its trading software NOW. We have decided to provide a 50 per cent discount on pricing and technological support to enable smooth transition of trading terminals from the NSE’s NOW and to ensure business continuity in this hour of crisis.”
Vendors charge brokers a few thousand rupees as cost for providing trading solutions software for each of their terminals.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Fiscal stimulus, friendly monetary policy and firm commodity prices point towards normalcy, says the MD and ...
Price correction is a good opportunity for long-term investors to take the plunge
Q4 earnings, along with progress in controlling Covid-19 spread, will be in focus
Do keep in mind that premium may go up in case one of the members has a pre-existing condition
In an age of falling female workforce participation, worsened by the Covid-19 pandemic, policy makers and ...
Of an injured baby goat, young men on motorcycles and political tensions
It’s the birthday of Muttiah Muralitharan — the man who took a staggering 800 test wickets. What better way to ...
An ode to writer and great-uncle Ved Mehta, and Ekarat, the friend who wrote and quit on his own terms
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor