The National Stock Exchange of India Limited (NSE) has built a range of next generation trading services, based on the Kx software platform. Following successful user testing, the system has gone live and as a result NSE is now able to provide its clients with the capability to test their algorithms before they are made live.
The NSE, set up in 1992, is a thought leader in the deployment of technology to improve trading practices. This contract has the potential to serve as an example towards improving the robustness of exchange trading platforms on a global basis and also in providing additional, value-added services to market participants.
The contract also adds a flagship global Exchange to Kx’s customer base in a strategically important region. Under the contract, Kx will provide an Algorithmic Testing Facility which will allow NSE market participants to test the impact of their algorithms before they are deployed in production, using trade simulators to replay historical data, create market “noise” and generate extreme market shocks to fully explore the robustness and efficacy of new algorithms.
Ravi Varanasi, Chief, Business Development, NSE commented: “The system is expected to deliver value added services to the market participants. We can now provide Algo Test facility and accompanying data analytics to the market participants when they want it. Through individual, group and crowd tests the market participants may track an algorithm’s efficiency within and across clients.”
Brian Conlon, Chief Executive Officer of Kx, commented: “This is an important win for Kx, once again referencing our software’s ability to manage large volumes of real time data and, in this case, help Exchanges protect their integrity while allowing their market participants to deploy algorithms quickly and safely. We are delighted to welcome NSE as a client.”
Kx has been the software leader for complex analytics on massive-scale streaming data for over two decades. The Kx technology is an established and trusted standard for trading, surveillance and research in financial services. Kx has emerged as the elegant, integrated solution to the analytic needs of the pharma, retail, utilities and high-tech manufacturing industries; scaling effortlessly to the data challenges of the Internet of Things.
With more than 100 major global corporations as clients, Kx works closely with its user group to drive and prioritize its research and development so that it delivers the most innovative software, tools, solutions and services to solve its customers’ business needs. As the Internet of Things creates never before seen volumes of structured machine data, new industries are embracing Kx technology’s proven ability to store and analyze data in real-time.
Kx is a division of First Derivatives plc. Listed on the London Stock Exchange [FDP:LN] First Derivatives is a specialist software and consulting organization with an uninterrupted track record of customer success and profitable growth since it was listed in 2002.
For more information about Kx, please visit www.kx.com.
About First Derivatives
First Derivatives plc (FD) is a global technology provider whose services and solutions are used by many of the world’s largest companies. In addition to Kx, the FD Group includes MRP and Capital Markets Consulting, CMC.
MRP is a global provider of marketing intelligence, software and services. MRP drives sales pipelines and delivers the insights clients need to more effectively sell to their key target markets. CMC supports financial institutions in designing, developing, implementing and supporting a broad range of mission-critical data and trading systems across front, middle and back-office operations. Services are provided both on-site and from its strategically located Near Shore centers.
FD is quoted on the London Stock Exchange (FDP:LN) and has had double-digit revenue growth every year since it was incorporated in 1996. FD has over 1,500 employees around the world, including in London, New York, Tokyo, Singapore, Sydney, Palo Alto, Toronto, Ottawa, Belfast, Dublin, and its headquarters in Newry.
For more information, please visit www.firstderivatives.com.
This article is modified from a press release issued by FD on 2 November 2013