Financial Technologies perks up 4.10% on MCX, Nybot pact

DALAL STREET SPIKES

Financial Technologies went up 4.10 per cent to Rs 1,254.25 after Multi Commodity Exchange (MCX) signed an agreement with New York Board for Trade (Nybot).

MCX is a wholly-owned subsidiary of Financial Technologies. As many as 22 thousand shares changed hands on the BSE. MCX has signed a memorandum of understanding with the New York Board for Trade Nybot to explore areas of co-operation that could mutually benefit both the exchanges.

Financial Technologies develops software solutions for online trading terminals. It had announced a strong Q3 report for the period ended December 2005.

The company's net profit jumped 398.8 per cent to Rs 17.1 crore on YoY basis. The net sales for the same quarter jumped 242.4 per cent to Rs 30.85 crore on YoY basis.

Financial Technology in mid December 2005 had announced the launch of a new firm-Riskraft Consulting (RCL) to provide financial risk management solutions and data warehousing to banks and financial institutions.