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Source : The Hindu 

Our Bureau

MUMBAI, May 21

NSE.IT, the 100 per cent subsidiary of the National Stock Exchange and
`i-flex solutions ltd' has announced the new e-trading joint venture company
called DotEx International Ltd. (DIL). DotEx International will launch the
vertical portal, Brokers Plaza, for the investor community.

NSE.IT will hold 51 per cent in DIL and i-flex solutions (earlier Citicorp
Information Technology Industries Ltd) 49 per cent.

DIL will have a capital outlay of Rs. 25 crores, said Mr. Deepak Ghaisas,
Chief Financial Officer, i-flex solutions. The initial outlay would be Rs.
10 crores.

The board of directors represented by both partners will independently
manage DotEx International, said Mr. Satish Naralkar, Executive Director,
NSE.IT, at a news conference here on Monday.

The vertical portal launched will allow market intermediaries to do
``anytime, anywhere equity trading'' over the Net using standard personal
computers, mobile phones and WAP-based devices. Later, the services will be
expanded to include online book building, demat operations, derivatives
trading and other facilities, said Dr. R.H. Patil, Chairman, NSE.IT.

The Brokers Plaza will enable small and medium intermediary outfits to go
for Internet trading, said Mr. Naralkar. NSE.IT had earlier launched NeatXS,
an order routing system and Neat iXS, an Internet trading system for
brokerage houses and almost 100 copies of these have been sold to brokers.
But these would be used by the larger outfits, he said.

DIL will offer readymade technology and processing infrastructure for market
intermediaries. Multiple market intermediaries, including brokers,
depositories, banks and investment consultants would be integrated on a
single platform, said Mr. Naralkar.

The plaza would in fact work like an Application Service provider. Revenues
for the portal would be generated from subscriptions fees, transaction fees
and the like. It would be operational by July.

Later DIL could also work on creation of plazas for other exchanges as well,
said Mr. Naralkar.

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