Financial Technologies launches DMA LIVE!
First Published 8th August 2008
DMA LIVE! and FTNet to Provide International Market Connectivity and Access to over 80% of Indian Brokerage and Institutional Market
DMA LIVE! from Financial Technologies is built on ODIN suite of products and will allow clients direct control of their trades without depending on the broker for trade execution. DMA LIVE! will leverage the integration with ODIN solution platform, OMS (Order Management Solution) that Financial Technologies provides to over 80% of the large institutional and brokerage clients.
Mr. G. N. Bajpai, former SEBI Chairman and Advisory Board member, Financial Technologies, 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."
Financial Technologies 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 ManagementSystem (EMS). Domestic and foreign brokers can provide this facility to their high volume Institutional clients.
Mr. 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."
Mr. Manjay Shah, Director Marketing, Financial Technologies group, said: "The introduction of DMA LIVE! trading for institutional investors in India reflects the nation's move towards the technologically advanced and efficient electronic trading infrastructure. Financial Technologies will continue to innovate and offer solutions that transform the traditional functioning of the capital markets."
Mr. Bijay Murmuria, President, Association of National Exchanges Members Of India (ANMI), said: "DMA LIVE! fulfils a long-term need of institutional investors for direct access to order execution and swift trades. It also addresses issues and concerns relating to transparency, front running and insider trading adequately and shall open up the environment to algorithmic trading. This FT product should be immensely useful to our member-brokers to satisfy client needs."
Mr. Kiran Karnik, former President of NASSCOM, and Advisory Board member, Financial Technologies, said: "We believe that DMA LIVE! provides an excellent market opportunity for brokers to expand and deepen their offering to their customers in the current soft economic environment. DMA LIVE! once again has been a distinct factor in driving disruptive innovation that provides huge strategic value to its customers. DMA LIVE! will not just allow increased hedging and arbitrage activity from institutions but also allow institutions to use decision-support tools or algorithms for trading - program trading".