Financial Technologies (India), a leading technology company, has launched DMA LIVE! which together with FTNet will provide international market connectivity and access to over 80 per cent of Indian brokerage and institutional market.
DMA LIVE! offers direct control over orders, faster execution, reduced errors, greater transparency, increased liquidity, lower impact costs for large orders, and better audit trails. FTIL has implemented DMA LIVE! solutions for large brokerage and financial institutional clients that are potential users of DMA, and has also provided them with a complete solution connecting domestic buy side with sell side through an Execution Management System (EMS) that gives them an edge over other providers.
Domestic and foreign brokers can provide this facility to their high volume Institutional clients.
DMA LIVE! is built on ODIN suite of products and will allow clients direct control of their trades without depending on the broker for trade execution. The technology will leverage the integration with ODIN solution platform, the market leading OMS (Order Management Solution) that Financial Technologies provides to over 80 per cent of the large institutional and brokerage clients.
The number of trading licenses of the ODIN platform has seen a 95 per cent growth from 164,000 in March 07 to over 320,000 in March 08.
This is the next-generation technology innovation to provide unmatched price / value competitive advantage to India’s institutional brokerage and buy side firms.
The financial market industry and community has welcomed the launch of DMA LIVE! (direct market access) solution by FTIL, the US$1.84 billion (market capitalization as on 31st March 08) global leader in creating and operating technology-centric, next-generation financial and commodity markets.
Welcoming the launch G N. Bajpai, former SEBI Chairman and Advisory Board member, FTIL, said, “The implementation of the DMA LIVE! solution will enable institutional clients to have direct control over orders given and would result in faster execution, besides reducing risk of errors associated with manual entry. DMA LIVE! trading has been enabled for both the segments - equity, and equity derivatives. Our DMA LIVE!-compliant release provides advanced quantitative modules and algorithmic trading capabilities.”
Talking about the technology Janak Mehta, President, LKP Securities Ltd., commenting on the DMA LIVE! implementation, said, “We are associated with Financial Technologies for deploying DMA LIVE! solutions to our numerous clients, which will help combat the high volume and high-risk demands of our clients, including banks, domestic and foreign institutional investors.”
DMA LIVE! will provide a number of benefits to the fund houses including mutual funds, insurance companies, banks or international clients, international hedge funds etc in the form of low latency solution offering trade by supporting client’s connectivity to and from the OMS to different exchanges, monitoring, analysis and resolution of FIX connectivity issues to and from the OMS that handles very large volumes of equity transactions daily. Additionally, it would also provide benefits for usage of third-party testing tools to ensure high service levels on speed of trade execution and limited chances of execution irregularities.