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Mumbai, 26 May 2000 - Intel
Corporation and DotEx International', a joint venture of NSE.IT and
i-flex Solutions (formerly known as CITIL), announced today that
Intel architecture based servers would power the NSE Brokers Plaza.
Due to be launched later this year, Brokers Plaza will enable
brokers and retail investors to e-trade securities listed on India's
Stock Exchanges.
The announcement was made in Mumbai
today by Dr. Craig R. Barrett, President and Chief Executive
Officer, Intel Corporation and Dr. R. H. Patil, Managing Director,
National Stock Exchange of India and Chairman, NSE.IT.
"This is an important step
towards accelerating e-Business in India not only because the
National Stock Exchange is fundamental to the Indian economy and we
believe it will encourage other companies and industries to examine
their own e-Business strategies," Dr. Barrett said.
"We need to recognise that now
is the time for us to build infrastructure and leverage on the
emerging surge economy. This is a great move forward for the Stock
Exchange and India as a whole," Dr. Patil said.
"We are pleased to have Intel
with capabilities to supply pre-eminent and proven building blocks
to the worldwide Internet economy and help us build the Brokerage
Plaza online Finance solutions in the Indian market" Mr Satish
Naralkar, Executive Director, NSE.IT, said.
The Brokers Plaza is well
positioned to provide trading services for the brokerage community.
This ASP infrastructure will enable brokers to offer online trading
facilities to a much larger community of retail investors. Intel
will provide technology expertise, lab infrastructure for scaling,
testing and architectural expertise to this pioneering Application
Service Provider effort.
The Brokers Plaza will deploy
cluster of Intel® Pentium III Xeon™ processor-based 8-way and
4-way servers with high availability features for mission-critical
applications. NSE.IT has launched products like NeatXS, an order
routing system and Neat iXS, an Internet trading system and
enterprise version of the backend trading solution for brokerage
houses all powered by Intel architecture servers. Intel has provided
technology support to NSE.IT for making these Internet trading
solutions scalable and highly available on the symmetric
multi-processing Pentium® III Xeon Processor based servers.
About Intel
Intel Semiconductor Ltd, Intel's Asia Pacific headquarters in Hong
Kong, sells and markets microprocessors, platforms and
communications products in Australia, India, Indonesia, Malaysia,
New Zealand, Pakistan, the Philippines, People's Republic of China
(including Hong Kong, SAR), Singapore, South Korea, Taiwan, Thailand
and Vietnam. The company has world-class test and assembly plants in
Penang and Kulim, Malaysia, Makati and Cavite, Philippines, and
Shanghai, PRC; a chip design centre in Penang, Malaysia; a Research
Centre and a Wireless Competence Centre in Beijing, PRC; a software
development lab in Shanghai, PRC; and a Technology Centre in
Bangalore, India, to provide technology tools and support to the
growing software/IT industry. Intel, the world's largest chipmaker,
is also a leading manufacturer of personal computer, networking, and
communications products. Additional information is available at http://www.intel.com.
About NSE.IT
NSE.IT - NSE.IT, a 100% subsidiary of NSE, is the information
technology arm of the leading stock exchange in the country. A
leading edge technology user, NSE houses the state-of-the-art IT
infrastructure and skills. NSE.IT was set up with a view to bring
together the unique understanding of the securities industry that
NSE possesses and the wealth of IT expertise acquired over five
years as we have leveraged technology to assist in the growth and
reform process of the securities business.
NSE recognises that technology will
continue to redefine the shape of the securities industry, and
NSE.IT is uniquely positioned to provide services to this sector.
There has been a long felt need for products in the area of trading,
broker front-end and back-office, clearing and settlement, web-based
products, treasure management, risk management, Asset Liability
Management (ALM) and banking. Market participants have expressed a
desire for top-of-the-line solutions in these areas. NSE.IT's
expertise in developing solutions in these areas will be its primary
focus. NSE.IT also plans to provide consultancy and implementation
services in the areas of Data Warehousing, Internet and Business
Continuity Plans (BCP).
Amongst the first products launched
by NSE.IT are NeatXS, an order routing system and Neat iXS, an
Internet trading system, for brokerage houses. Till date close to
100 copies of Neat XS / iXS have already been sold to brokers,
capturing major market share. "Broker Plaza" will soon be
launched through "dotex International" a joint venture of
NSE.IT and i-flex Solutions, facilitating a large number of brokers /
investors to trade directly on the Stock Exchanges through the net.
The above products would pave the way for Internet trading in India,
expanding on NSE's reach to the ultimate investor.
NSE.IT has already been registered
as an Export Oriented Unit with STP and plans to go global for
various IT services in due course of time. In the near future it
plans to release new products for brokers's back office operations
and enhance NeatXS / iXS to support Straight Through Processing (STP),
on the net.
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