USE ties up with Omnesys' Nest for automated trading

To provide an "algorithmic" trading platform to its members

PTI | August 3, 2011



United Stock Exchange of India (USE), country's specialist currency exchange, today announced a tie-up with Omnesys Technologies to provide an "algorithmic" trading platform to its members.

USE said that increasing number of its trading members are opting for trading currency markets deploying algorithmic strategies, and becoming active on the automated trading operations platform Nest from Omnesys Technologies.

Nest is a well-accepted Computer to Computer Link (CTCL) platform for trading and is the flagship product of Omnesys.

USE, headquartered in Mumbai, is India's newest stock exchange for currency derivatives and has 415 trading members and 51 clearing members. USE has attracted about 22 per cent market share in just 10 months with the average June volume at Rs 10,394 crore.

Recently, USE empanelled State Bank of India as a clearing and settlement bank.

Bangalore based Omnesys Technologies is a leading provider of multi-asset trading software and systems and an Independent Software Vendor (ISV). Through Omnesys Nest, members can connect and trade on various exchanges including the USE and NSE-currency segment. .

 

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