Next-Gen Tech Introduced for Banks

by CXOtoday Staff    Aug 07, 2008

DMA LIVE! aimed towards the BFSI sector, offers direct control over orders, execution, errors, transparency, liquidity, impact costs for large orders, and audit trails

Financial Technologies has introduced a direct market access (DMA LIVE!) solution for India’s institutional brokerage and buy side firms. DMA LIVE! together With FTNet will provide international market connectivity and access to over 80% of Indian brokerage and institutional market.

Janak Mehta, president, LKP Securities Ltd. said, “We are associated with Financial Technologies for deploying DMA LIVE! solutions to our numerous clients, which will help combat the high volume and high-risk demands of our clients, including banks, domestic and foreign institutional investors.”

The solution is built on ODIN suite of products and will allow clients direct control of their trades without depending on the broker for trade execution.

It’s a low latency solution, offering trade by supporting client’s connectivity to and from the Order Management Solution (OMS) to different exchanges. It helps in monitoring, analysis, and resolution of FIX connectivity issues to and from the OMS that handles very large volumes of equity transactions. Using this solution allows limited chances of execution irregularities.

G. N. Bajpai, former SEBI chairman and advisory board member of Financial Technologies said, “The implementation of the DMA LIVE! solution will enable institutional clients to have direct control over orders given, resulting in faster execution, reducing risk of errors associated with manual entry. DMA LIVE! trading has been enabled for both the segments - equity, and equity derivatives.”

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