DSE to Restart Operations
The Delhi Stock Exchange is outsourcing its business continuity and disaster recovery services, as also its IT architecture. In an Rs. 11 crore, ten year managed services deal signed with IBM, DSE wants to eliminate capital expenditure by 100%.
Under this agreement, IBM will build, host, and manage the entire disaster recovery infrastructure for DSE from its data center. IBM will also provide 24×7 monitoring services for hardware and networking devices from its command center.
This will help the exchange meet business continuity guidelines laid out by Securities and Exchange Board of India (SEBI) before it could resume its operations after a hiatus of six years. By engaging with IBM in a complete operational expenditure (pay-as-you-go) model, DSE will also save 100 percent capital expenditure on IT.
DSE was one of country’s largest stock exchanges - almost at par with BSE in the 90’s, and has been in existence for over 60 years. In 2002, however, the exchange became inactive due to negligible trading volumes. Seven years later, the exchange is now looking at resurrecting itself to its former glory, when it used to be bustling with over 2,800 listed companies.
"As DSE looks to retain its position as one of country’s leading stock exchanges, the agreement with IBM couldn’t have happened at a better time," said HS Sidhu, executive director and CEO of Delhi Stock Exchange.
Vijay Gupta, chairman (business development committee) of Delhi Stock Exchange said, "DSE will play a key role in the stock trading landscape of India, once re-launched. IBM’s strong value proposition of providing managed services in an opex model was also one of the key reasons why DSE decided to choose IBM for this strategic relationship."
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