ISE ties up with TCS,on the comeback trail

The Inter-connected Stock Exchange of India Ltd (ISE),promoted by 13 regional stock exchanges,is aiming for a comeback by appointing Tata Consultancy Services (TCS) to provide software solutions for its soon-to-be-launched trading platform. ISE will offer cost-effective trading,clearing and settlement,risk management and surveillance support to over 800 trading members across 79 cities in India supported by its nine branch offices.

“ISE pursues to offer its members a platform that synergises amalgamation of best practices in trading. The first phase will be the launch of live trading on ISE platform scheduled to begin in October 2010,” ISE’s managing director P J Mathew said in a statement. The second phase will witness ISE hosting a trading platform especially for small and medium enterprises (SMEs).

TCS has played a catalytic role in the development of capital market infrastructure in India.

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“This solution transforms the organisation’s exchange trading platform to support the future need of securities exchanges. It enables multi-exchange,multi-asset class trading on a single platform,and integrates the surveillance,risk,clearing,and settlement platforms for better operational efficiency and uniformity,” the statement said.

ISE will be the anchor customer for the deployment of TCS’s integrated exchange trading platform marketed world-wide,the statement said.