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Online trading to account for 10% of stock trading volume 

The business opportunity represented by the software solutions required by the brokerages is huge. The company expects 30 to 40 per cent of NSE brokers to adopt its solutions and 10 per cent to opt for its Internet trading software branded NeatiXS, in about a year. The company is also working on a depository and a bank interface. The bank interface developed in association with HDFC Bank will be shortly available. Once the interfaces are ready then straight through processing would become a reality, Naralkar said.

In straight through processing when a client places an order, his bank balance can be checked, then the trade executed and the securities credited to the client's depository account.

NSE.iT is currently working on solutions for derivative trading and back office operations. The derivative solution is expected to be ready in three months. The company's current products are NeatXS (a computer to computer order routing system) and NeatiXS (an Internet trading system). The software outfit has evolved an integrated e-broking solution architecture and will provide solutions for the deployment of the same. The company has recently formed a joint venture named DotEx International with i-flex solutions holding 49 per cent of the equity and the balance is held by it. The JV will host a brokers' plaza which would enable smaller brokers to utilise the common infrastructure and offer their clients Internet trading facility.

According to industry sources, NSE.iT's solutions are priced very competitively. Also, the products are expected to be fully compliant with and up to date with Sebi regulations.

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

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