First Derivatives PLC Contract win with National Stock Exchange of India (0978E)
November 02 2015 - 2:00AM
UK Regulatory
TIDMFDP
RNS Number : 0978E
First Derivatives PLC
02 November 2015
First Derivatives plc
("FD" or the "Company")
Contract win with National Stock Exchange of India (NSE)
FD (AIM:FDP.L, ESM:FDP.I), a leading provider of software and
consulting services, is pleased to announce a contract win with the
National Stock Exchange of India Limited (NSE) for a range of next
generation trading services, based on FD's kdb+ software platform.
Following successful user testing, the system has gone live and as
a result NSE is now able to provide its clients with the capability
to test their algorithms before they are made live.
The NSE, set up in 1992, is a thought leader in the deployment
of technology to improve trading practices. This contract has the
potential to serve as an example towards improving the robustness
of exchange trading platforms on a global basis and also in
providing additional, value-added services to market
participants.
The contract also adds a flagship global Exchange to FD's
customer base in a strategically important region. Under the
contract, FD will provide an Algorithmic Testing Facility which
will allow NSE market participants to test the impact of their
algorithms before they are deployed in production, using trade
simulators to replay historical data, create market "noise" and
generate extreme market shocks to fully explore the robustness and
efficacy of new algorithms.
Ravi Varanasi, Chief, Business Development, NSE commented: "The
system is expected to deliver value added services to the market
participants. We can now provide Algo Test facility and
accompanying data analytics to the market participants when they
want it. Through individual, group and crowd tests the market
participants may track an algorithm's efficiency within and across
clients."
Brian Conlon, Chief Executive Officer of FD, commented: "This is
an important win for FD, once again referencing our software's
ability to manage large volumes of real time data and, in this
case, help Exchanges protect their integrity while allowing their
market participants to deploy algorithms quickly and safely. We are
delighted to welcome NSE as a client."
Enquiries:
First Derivatives plc +44(0)28 3025 2242
Brian Conlon, Chief Executive Officer www.firstderivatives.com
Graham Ferguson, Finance Director
Ian Mitchell, Head of Investor Relations
Investec Bank plc
(Nominated Adviser and Broker) +44 (0)20 7597 4000
Dominic Emery
Carlton Nelson
Sebastian Lawrence
Goodbody (ESM Adviser and Broker) +353 1 667 0420
Linda Hickey
Finbarr Griffin
Walbrook PR +44 (0)20 7933 8780
Paul Cornelius/ Nick Rome/ Helen Cresswell/
Sam Allen
About FD
FD is a global technology provider with nearly 20 years of
experience of working with some of the world's largest finance,
technology and energy institutions. FD is the developer of the
world-leading database technology kdb+. FD employs over 1,400
people worldwide and has operations in London, New York, Stockholm,
Singapore, Hong Kong, Tokyo, Sydney, Palo Alto, Toronto,
Philadelphia, Dublin, Belfast and its headquarters in Newry.
For further information, please visit
www.firstderivatives.com
About National Stock Exchange of India
In its 20 year history, NSE has transformed the capital market,
based on technology, innovation and high standards of governance
and management practices. NSE's business practices, product
innovation and high levels of integrity have earned it the trust of
the financial market worldwide. Besides being a platform of choice
for all exchange traded financial products in India, NSE's flagship
index, the Nifty 50, has become a benchmark as a national level
economic parameter. According to the World Federation of Exchanges'
ratings, NSE is the largest exchange in the world in currency
options and index options and third largest in cash market trade.
Among the many accolades won by the exchange, the recent and
coveted CII-EXIM Bank Prize for Business Excellence is a
recognition of this remarkable journey.
For further information, please visit www.nseindia.com
This information is provided by RNS
The company news service from the London Stock Exchange
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