Mumbai: NSE IT, the technology arm of the National Stock Exchange (NSE) and i-flex Solutions Ltd announced on Monday the formation of Dotex International Ltd (DIL) - a new e-trading joint venture partnership company.

Addressing the joint press conference NSE managing director Dr R H Patil and i-flex chief financial officer Deepk Ghaisas told reporters that the new company will launch a vertical portal that will offer a comprehensive range of products and services to both market participants and the investors.
The initial suite of services includes anytime, anywhere equity trading over the Net using standard PCs, mobile phones and WAP-based devices.

According to Satish Naralkar, executive director of NSE IT, a board of directors represented by both partners will independently manage DIL. NSE IT will hold 51 per cent share in DIL with i-flex holding the remaining 49 per cent.

DIL offers readymade technology and processing infrastructure for market intermediaries to expand their reach and service capability.
For the first time in the country, online investors will enjoy transparency and one-click convenience with the integration of multiple market intermediaries such as brokers, depositories, banks and investment consultants onto a single platform.

The model ensures complete freedom and flexibility for investors across the country to deal with their preferred market intermediaries.Ghaisas said that initially the total capital outlay of the new company stands at Rs 25 crore and it will be enhanced as and when required.
(UNI)