Financial Technologies will build the trading platform for DSE. Although TCS was also in the fray, the exchange is understood to have gone with Financial Technologies because of its track record.
DSE is expected to sign an agreement with the foreign bourses next week and the trading platform will be rolled out in a couple of days. Financial Technologies has already picked a 5 per cent stake in the exchange.
The collaboration with the foreign bourses could be for launching new indices and sharing the technical know-how, said sources. DSE has 2,800 small companies listed on it. Therefore, AIM, which is an exchange for small-size companies could offer it the much-needed partnership to replicate its model in India.
Regional stock exchanges, which lost their sheen a long time ago, have begun to attract growing interest from foreign and private players.
The Nasdaq, the largest equity bourse in the US, is looking to partner with the Ahmedabad Stock Exchange and three other regional exchanges for setting up an exchange in India. BSE recently picked up a 5 per cent stake in the Calcutta Stock Exchange.
Sources said DSE is also planning to write to Sebi to allow them weekly settlement in futures and options (F&O) compared with the monthly settlement on BSE and NSE as it will help small investors and give a boost to volumes on the exchange.
