NSE.IT unveils steps for Net trading

NSE.IT unveils steps for Net trading
ENS ECONOMIC BUREAU

MUMBAI, JANUARY 4: The National Stock Exchange on Tuesday announced its initiatives for internet trading. NSE.IT, the 100 per cent information technology subsidiary of the NSE has unveiled two software solutions - NEATXS, an order routing system, and NEATiXS for Internet trading.

NeatXS, available at minimum price of Rs 4.5 lakh (for a 5-client user base), is a multi-exchange order routing system for brokerage firms for complete automation of order execution, risk management and surveillance. It enables a brokerage firm to have complete control on the trading operations and provide an effective and efficient service to all its local and remote clients.

The products will be formally launched in two weeks time, Ravi Narain of NSE told reporters today, adding that at least 50 per cent of NSE's trading members are multi-locational.

The software is in fact available in two editions - Workgroup edition and Enterprise edition. The first one is targeted at small and medium brokers and will support upto 100users. The second edition is targeted at large brokerage firms and stock exchange subsidiaries and can support upto 500 users, Narain said.

NEATiXS is an add-on product to NEATXS and is designed to help brokerage firms to conduct Internet trading. Investors can access the software via the Internet from India and abroad using standard browsers.

It will also provide real time on-line market information including latest stock quotes and order screens, allowing investors to place orders from their personal computers.

This software is priced at Rs 5.50 lakh, the cost being for the Internet module per CPU per server license fee and irrespective of the number of clients. Incidentally both the editions are available on a deferred payment scheme.