Published On: Mon, Jan 11th, 2010

BSE and Netmagic Join Hands for Automated Trading

Bombay Stock Exchange has announced its first Collocation facility at BSE premises with Netmagic Solutions Pvt. Ltd., one of the India’s leading Managed IT Service Providers. This Collocation Facility will be extended to Broker members and their customers to host their servers near to BSE’s trading platform within BSE premises and will facilitate faster trade execution especially for program trading.

Announcing this development, Mr. Madhu Kannan, MD & CEO, BSE, said “The first collocation facility provided by Netmagic at BSE premises would help the broking community to host their servers for program trading near to our trading system. It would be exchange neutral and since the facility is extended by one of the best service providers in the industry, member would experience a world class facility at a very competitive cost that can be additionally used for placing orders on multiple exchanges”.

Sharad Sanghi, MD & CEO, Netmagic, added, “In the emerging era of Algorithmic trading, this partnership will provide mission critical hosting and proximity Infrastructure to Broking Community. This is a unique tie-up between leading exchange and a mission critical hosting service provider that will address the changing needs of online trading community”.

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