United Stock Exchange members go Live with Omnesys’ NEST for Automated Trading

Aug. 2, 2011 - PRLog -- United Stock Exchange of India- country’s specialist currency exchange, today announced that increasing number of its trading members are opting for trading currency markets deploying algorithmic strategies, and becoming active on the automated trading operations platform NEST from Omnesys Technologies. NEST is a well-accepted Computer to Computer Link (CTCL) platform for trading and the flagship product of Omnesys.
USE, headquartered in Mumbai, is India’s newest stock exchange for currency derivatives and has 415 registered trading members and 51 clearing members. USE has a growing market share of about 22% in just 10 months and with the average June volume being Rs. 10394 cr. Just recently, USE empanelled State Bank of India as a clearing and settlement bank.
Bangalore based Omnesys Technologies, is a leading provider of multi-asset trading software and systems and an Independent Software Vendor (ISV). Through Omnesys Nest’ members can connect and trade to various exchanges including the USE and NSE-Currency Segment.
Mr. T.S. Narayansami, MD & CEO of United Stock Exchange said, “We are extremely delighted to announce that algorithmic trading has been picking up at our platform with more & more members expressing interest and opting for ATS operations through Omnesys to take advantage of opportunities that can be explored in currency markets presently. We are confident that Omnesys would be very useful for our members to trade in currency markets with proper risk management system in place.”
Mr. Shrikant Pandit, Managing Director, Omnesys said “Omnesys is proud to be associated with USE on their automated trading initiatives for its members. NEST, our market leading platform, is designed to service customers with improved trading capabilities facilitating order management and execution capabilities. The current version of the software is equipped with appropriate tools that allow members to actively manage their trades”.

About United Stock Exchange of India

The United Stock Exchange of India Limited (USE) is India’s newest stock exchange for currency derivatives.  The exchange offers a better platform to corporates and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk.

The exchange is a unique Public-Private partnership with equity investments by both PSUs and the private sector. USE represents the commitment of ALL 21 Indian public sector banks (Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, Punjab National Bank, State Bank of India, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank), reputed privateand foreign banks like Axis Bank, Federal Bank, HDFC Bank, J&K Bank, Yes Bank, ICICI Bank, Standard Chartered and corporate houses like Jaypee Capital, MMTC, Indian Potash to build an institution that is on its way to becoming an enduring symbol of India’s modern financial markets.

About Omnesys
Omnesys Technologies Pvt. Ltd is a leading provider of Order Management Systems and an Algorithmic trading platform provider. Omnesys products are used extensively by institutions, exchanges, brokers, traders and prop trading desks all over the world. As a leading low latency, high frequency trading platform Omnesys NEST provides significant liquidity, market making opportunities and arbitrage opportunities across various asset classes and in multiple venues.