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Mumbai, June 19, 2001 – DotEx International and Interconnected Stock Exchanges of India Ltd (ISE) have joined together to provide Internet trading facility to members of 15 regional stock exchanges. Members of the 15 regional stock exchanges can now start accepting buy and sell order over Internet through ISE Securities & Services Limited (ISS), the fully owned subsidiary of ISE, which is registered with National Stock Exchange as an exchange subsidiary.

ISS members’ Internet trade orders will be routed to National Stock Exchange’s trading system using the Internet trading infrastructure of DotEx. DotEx International, promoted by National Stock Exchange subsidiary, NSE.iT and i-flex solutions ltd., is India’s first Application Service Provider offering Internet trading infrastructure to stockbrokers. ISE has been promoted by 15 Regional Stock Exchanges to provide trading linkage/connectivity to all the Participating Exchanges to widen their market.

Over 300 broker members of ISE have already signed up with DotEx for offering Internet trading to their customers, making DotEx Plaza, the largest Internet trading network in the country. With this the spread of DotEx participant brokers spans the length and breadth of the country, covering 17 states and over 50 cities. The cities covered include Hyderabad, Rajamundry, Ongole (Andhra Pradesh); Gauhati, Nagaon (Assam); Patna (Bihar); Raipur, Bilaspur (Chattisgarh); Delhi; Rajkot, Ahmedabad, Baroda, Surat, Ahmednagar (Gujarat); Karnal, Hissar, Gurgaon, Bahadurgarh (Haryana); Jharia, Ranchi, Dhanbad, Jamshedpur (Jharkhand); Mangalore, Belgaum (Karnataka); Indore, Bhopal, Jabalpur, Gwalior (Madhya Pradesh); Mumbai, Pune, Ahmednagar, Nagpur, Sangli, Navi Mumbai, Shahad, Bhandara (Maharashtra); Cuttack, Bhubaneshwar (Orissa); Patiala (Punjab); Jaipur, Kota (Rajasthan); Coimbatore, Chennai (Tamil Nadu); Kanpur, Ghaziabad, Agra, Faridabad (Uttar Pradesh); Kolkata and Bankura (West Bengal).

With the signing up of ISE Securities & Services Limited, the total number of NSE brokers using DotEx Internet trading infrastructure has gone up to 45. With this, now 60 per cent of all NSE brokers offering Internet trading routes their Internet trade through DotEx Plaza infrastructure. Currently 76 NSE members offer Internet trading facility.

“The alliance with DotEx Plaza has enabled us to offer superior Internet trading facility to our members within a short span of time. Our tie-up with DotEx Plaza is significant for the fact that Internet trading facility is now available for brokers in towns and cities across the country. The technological excellence, concern for security and speed of execution displayed by DotEx Plaza in rolling out the facility within record time has convinced us of the sustainability of the DotEx Plaza model. We are impressed with the commitment shown by DotEx customer care team to resolve issues and their high quality of service”, said V Shanker, Joint Managing Director, Interconnected Stock Exchanges of India Ltd.

“We expect more NSE brokers to sign up with DotEx for offering Internet trading facility to their clients. The agreement with ISE Securities Ltd., the largest network of regional stock brokers, for offering Internet trading to its member brokers is a very significant step in our growth. Our model offers best option to brokers in terms of superior technology, security, speed to market and huge cost advantage. We do not see any financial or operational reason for an individual stock broking firm to set up, maintain and run a costly Internet trading system on its own, said V. Srinivasan, CEO, DotEx International.” The business model of DotEx is to enable stock brokers to offer Internet trading to their customers fast without having to set up, maintain and upgrade the trading system on their own. A stock broker who has decided to offer internet trading to its customers can offer the facility within a week’s time with DotEx. He just needs to sign up with DotEx Plaza and request his customers to get a DotEx Trading Account Number from dotexplaza.com site. The customer can begin to trade after the broker adds him to the DotEx Internet Trading System. The stockbroker will have a separate administrative site where he can add customers and set trading limit, apart from other customer support functions. At present DotEx Plaza offers Internet trading on National Stock Exchange. “Internet trading is here to stay and grow. With the fizzling out of unwanted hype around the web, people are realizing more and more the benefits of Internet in trade transaction processing. Even when the stock market trading volume witnessed a steep fall of over 70 per cent during the first half of this year, the volume of trade routed through Internet have been steadily growing. The volume of trade processed at our end has been more than doubling every month since the commencement of trading in DotEx a year ago”, said Mr. Srinivasan

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