DotEx, a joint venture between NSE-iT and iflex Ltd, has tied up with Interconnected Stock Exchanges of India Ltd (ISE) to provide internet trading facility to over 300 brokers of 15 regional exchanges. With this tie-up, all ISE members spread across 15 regional stock exchanges can provide net-based trading to their clients on the National Stock Exchange (NSE).

They could offer trading on NSE through ISE Securities & Services Ltd (ISS), a fully owned subsidiary of ISE and a memeber of NSE. "The facility is already operational and some of these brokers have launched net trading," Dotex International CEO V Srinivasan said.

The tie-up has enabled brokers belonging to over 50 smaller cities across 17 states to offer trading over net to their clients.

ISE has been promoted by 15 Regional Stock Exchanges to provide trading linkage/connectivity to all the participating exchanges. It recently floated a subsidiary to take membership of NSE enabling its members to trade on the exchange as sub-brokers.

DotEx jointly promoted by NSE-iT and I-flex, is the first to offer net trading infrastructure to stock brokers. It provides a platform for brokers to offer Internet trading to their customers without having to set up infrastructure on their own. This works out to be cost-effective for brokers as they can offer trading without having to set up and maintain the trading system as they get a ready made platform. "We also take care of the risk management and order routing facility for the brokers," Mr Srinivasan said.

The Economic Times