| NSE launches PoP in Saurashtra | |
| BS Reporter / Mumbai/ Rajkot November 02, 2009, 0:35 IST | |
National Stock Exchange (NSE), the pioneer in setting up a countrywide trading network for the financial community, is now taking a step further by establishing Points of Presence centres in smaller cities and towns.
Keeping in view the lower operational costs, NSE has started Points of Presence (PoP) centre at Marwadi Shares and Finance Pvt. Ltd in Rajkot to effectively connect Saurashtra-based NSE members to the order book.
So far, the members were connecting to the order book through Ahmedabad based PoP. Hence there was additional cost for connecting through leased line or any other mode of connectivity.
"The PoP in Rajkot will result in lower cost of connectivity and faster response time. More over the advantage of connectivity or other technology issue can be attended at the local level", said Jayesh Sheth, chairman of Ajay Natvarlal Security Pvt. Ltd based in Rajkot.
According to leading brokers of the regions, this area has been deprived from arbitrage on account of slower connectivity and response time. Now, arbitrage trading opportunity can be exploited by local players and this would open new avenues of business for them.
Ketan Marwadi, Managing Director of Marwadi Groups said, "Trading facility and speed will be become much better as NSE put up PoP in Saurashtra region. It reduces the cost and members will get financial benefits."
NSE’s network of VASTs and leased line is one of the largest and the most sophisticated in country with six thousand VASTs, leased line and internet based connections; connecting over two lakh trading terminals spread across 1200 plus locations of the country. Recently, NSE has migrated its network platform to IP technology to provide higher speed, reliability and enhanced business features and products.
"It will create faster access to NSE servers by arbitrageurs whose offices and servers are located in Rajkot and will arbitrageurs based in Rajkot will be at par with people in Mumbai, Delhi and Kolkata were PoP is there", said Hiren Padia, Managing Director, Team StockResearchers Private Limited.
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