United Stock Exchange of India members go live with Omnesys Nest

Source: Omnesys Technologies

United Stock Exchange of India, the country's specialist currency exchange, today announced that an 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. 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 to and trade various exchanges including the USE and National Stock Exchange-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 and more members expressing interest and opting for ATS (automated trading system) operations through Omnesys to take advantage of opportunities that can be explored in currency markets presently. We are confident that Omnesys will be very useful for our members to trade in currency markets with a proper risk management system in place."

Mr. Shrikant Pandit, Managing Director, Omnesys said: "Omnesys is proud to be associated with USE on 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." 

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