Technology major IBM on Wednesday announced that it has signed a 10-year information technology services agreement with Delhi Stock Exchange (DSE).

As part of this Rs 11 crore agreement, IBM will provide business continuity and disaster recovery services to DSE as well as remotely host and manage its IT infrastructure. This will help the exchange meet the stringent business continuity guidelines as laid out by Securities and Exchange Board of India (SEBI) before it could resume its operations after a hiatus of six years.

By engaging with IBM in a complete operational expenditure (pay-as-you-go) model, DSE will also save 100 per cent capital expenditure on IT.

DSE was one of country’s largest stock exchanges – almost at par with Bombay Stock Exchange in the 90’s, and has been in existence for over 60 years. In 2002, however, the exchange became inactive due to negligible trading volumes.

The exchange is now looking at resurrecting itself to its former glory—one where it used to be bustling with over 2,800 companies listed.

IBM will play a key role in helping DSE go live for trading by providing a highly secure environment and a robust resiliency solution with the goal of zero data loss once the exchange becomes operational later this year.

Under the agreement, IBM will build, host and manage the entire disaster recovery infrastructure for DSE from its data center. IBM will also provide 24x7 monitoring services for hardware and networking devices from its command center.