4-page Case Study
Posted: 8/10/2011
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Financial Technologies (India) Ltd A Multi-Asset, Multi-Exchange Electronic Trading Solution Empowers Brokerage Houses across India

FTIL’s technology excellence, combined with its deep domain expertise, has consistently delivered mission-critical technologies to market intermediaries across the Financial Services industry. A vertical specialist it has deployed cutting-edge Straight Through Processing (STP) technologies for various markets. To address some of the most challenging demands of brokerage houses in India, the company created ODIN™, its flagship product. Built on Microsoft products and technologies including Microsoft Visual C++, Microsoft SQL Server, C#, Microsoft Messaging Service, IIS Server and ASP.Net, ODIN™ offers a complete front office solution, with built-in order routing, risk management and display engine with real time connectivity to the back-office system. It provides robustness, credibility, and neutrality along with the largest support service network and end consumer ownership.

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* FTIL delivers mission critical applications rapidly with very high reliability in one of the fastest evolving financial markets by adopting multiple Microsoft development tools. *

Paras Ajmera
Director - Operations and HR
Financial Technologies (India) Limited

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Situation

Headquartered in India, with operations in United States, Singapore and Australia, Financial Technologies (India) Limited (FTIL), is the flagship company of the Financial Technologies Group, is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets that are transparent, efficient, and liquid across all asset classes including equities, commodities, currency, and bonds.

The Financial Technologies group operates one of the world’s largest networks of 10 exchanges connecting fast-growing economies of Africa, Middle East, India and South East Asia. The group also has 5 ecosystem ventures to address upstream and downstream opportunities around exchanges, including clearing, depository, information vending, and payment gateway among others.

FTIL is focused on developing mission-critical technology solutions for the financial services industry and the facilitation of change within the financial marketplace. It is passionately committed to its leadership in helping shape the future of financial markets, as they transform and continue to evolve in their fundamental role as the platform for wealth generation and distribution in a new world economic order. FTIL has emerged as the preferred technology partner for deploying straight though processing (STP) technologies for the technology-intensive financial services sector.

Financial Technologies revolutionized the Indian Electronic Trading scenario by introducing an end-to end STP solution that supports high-density transactions. Its solutions cater to the equity, FOREX, commodity and derivatives markets, covering all stages of a Trade Life Cycle – Pre-Trade, Trade, and Post-Trade - to deliver single-point transaction fulfillment.

Addressing the entire value chain of exchange solutions, FTIL decided to create a multi-exchange, multi-segment front office securities trading platform for equities, derivatives, and commodities markets – all on a single application. It wanted to offer real time connectivity to the exchange and back office system with faster inter-segment trading.

With genesis in the technology solutions business, FTIL thought of developing an innovative technology product to ensure seamless operations.

Solution

To keep its commitment of being a pioneer in introducing end-to-end STP solutions, FTIL created ODIN™, a multi-exchange, multi-currency front office trading and risk management system, which makes trading on multiple markets easier through the use of a single application. It incorporates appealing features and works on advanced technology which facilitates higher accessibility, ensuring speedy performance and advanced risk management.

Based entirely on the Microsoft platform and built using Microsoft Visual C++ 2005, Microsoft SQL Server 2005, C#, Microsoft Messaging Service, IIS Server 7.0 and ASP.Net, ODIN demonstrates the level of customer satisfaction and business efficiency achieved by effectively and innovatively deploying Microsoft based technology solutions. “Building the systems on Microsoft technologies enabled quick user adaptation as the user interface of Windows was very familiar amongst users,” says Paras Ajmera, Director -Operations and HR, FTIL. “The training time therefore required was very less. The installation and training both happened quickly and easily.”

FTIL used the Microsoft Foundation Classes (MFC) available with Visual C++ to have in-memory transactions, improving throughput and avoiding latency. The Microsoft Message Queuing technology was used so that it helps queuing in memory. The algorithm was built such that the information would go to the database only when necessary. FTIL in effect controls every message sent across the system.

ODIN is a scalable solution that ensures high performance standards and which can be easily deployed across varied locations with relative ease. It provides real time connectivity to the multiple exchanges offering highest order execution speed and operational stability. Additionally, ODIN has extensive search and filtering options and that too with minimal investment and ease of manageability.

The transparent and real time model of ODIN did away with the uncertainties of the trading environment. IT not only attracted more investors but also allowed even the end-user to participate in trading.

As the core architecture of ODIN is Scalable and robust, Today, ODIN has become the ‘Trading Platform of Choice’ in the country powering over 880 leading brokerage houses with more than 80 percent market share.

Benefits

FTIL is setting up world-class international market platforms that unlock value from the middle and bottom of the socio-economic pyramid thus empowering the common man and transforming economies.

Brokers can customize their interface with stock exchanges and execute market trades from their terminals.

Provides a Scalable Architecture

With ODIN, FTIL offers brokerages, a scalable solution that ensures high-performance standards, and is easily deployed across locations with relative ease. Offering stability and robustness, the solution supports fast execution of orders and maximum load handling capacity. Says Paras Ajmera, “For example, Angel Broking has over 1,000 terminals and 2,000 ODIN Diet concurrent connections on the same server. The company has scaled up from an initial 200 terminals.”

It also supports data streaming on bandwidth as narrow as 9600 bauds to ensure smooth trades at lower bandwidths as well.

Allows Business Expansion

ODIN enables brokerages to extend trading across the country by using heterogeneous network thus expanding business boundaries. The solution provides a common dealing desk for multiple exchange segments with minimal investment and easy manageability. It also provides operational ease with extensive search and filtering options.

Offers Comprehensive Risk Management

Today, brokerages demand a comprehensive Risk Management System for the trading solution, which can facilitate risk monitoring at multiple levels. ODIN equips them with comprehensive multi-tier risk management across multi-exchange segments with user-defined periodicity. ODIN runs over 80 real time risk management checks in real time before completing a trade. In addition, Mark-to-Market facility enables valuation of positions on the futures market in real time. This gives insight to investors in real time to take a quick and effective decision on their positions.

The solution creates a comprehensive trade and system audit trail. This ensures that all trades comply with SEBI regulations and any irregularities are caught quickly.

Offers Flexibility

The goal of ODIN management system is to incorporate flexibility in every aspect of the solution. For example, it offers its customer flexible deliver channels such as Internet based, executable and handheld trading solutions; as well as, offline through retail and institutional trader workstations. In addition, payment gateways allow clients to transfer funds online for trading in various market segments.


Microsoft Server Product Portfolio

For more information about the Microsoft Server Product Portfolio, go to:

www.microsoft.com/servers/default.mspx

For More Information

For more information about Microsoft products and services, call 132 058 or visit our website at:

www.microsoft.com

For more information about Financial Technologies (India) Limited products and services, call +91 22 26171107 or visit the website at: www.ftindia.com

This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY.
Solution Overview



Organization Size: 250 employees

Organization Profile

Financial Technologies (India) Limited (FTIL) is a financial technology specialist providing IT solutions for the equity, treasury, FOREX, commodity, derivatives, and depository segments in the range of front-office, middle-office, and back-office products.


Business Situation

As a financial technology specialist, FTIL wanted to offer real time connectivity to the exchange and back office system with faster inter-segment trading.


Solution

FTIL used Microsoft technologies to create ODINTM, an integrated multi-exchange, multi-segment, front office solution suite targeted at brokers/dealers of equities and derivatives markets.


Benefits

  • Provides a scalable architecture
  • Allows business expansion
  • Offers comprehensive risk
  • management


Software and Services
  • Microsoft SQL Server 2005
  • Microsoft Visual C++ 5.0
  • Microsoft Message Queuing
  • Microsoft Internet Information Services 7.0
  • Microsoft ASP.NET

Vertical Industries
IT Services

Country/Region
India

Business Need
  • Mission Critical
  • Mobility
  • Support and Services

IT Issue
  • High Performance Computing
  • Risk Analytics and Reporting
  • Desktop, Device and Server Management
  • Development
  • Software + Services

Languages
English

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