FTIL to provide its trading software to NMCE

Financial Technologies India (FTIL), the world's second largest trading technology distribution company after NASDAQ-OMX Group, today said the National Multi-Commodity Exchange (NMCE) has signed up for its ODIN trading software.

The Open Dealer Integrated Network (ODIN) is a software that offers connectivity to various market segments on a single screen. It is being used by the Bombay Stock Exchange, MCX Stock Exchanges, National Stock Exchange, MCX and NCDEX.

"NMCE, the country's third largest commodity exchange, would be integrated in the FTIL's flagship product ODIN, which enjoys more than 80 per cent market share in front-end trading solutions used by brokers, banks and institutions," FTIL said in a filing to the Bombay Stock Exchange today.

An agreement on this line was signed between two companies today, FTIL, which is also the promoter of India's largest commodity exchange MCX, said.

In the last 10 years, FTIL has sold over 3.50 lakh licences for over one lakh trading workstations in 1,000 Indian institutions and brokerage clients.

At 1500 hours, shares of FTIL were trading at Rs 1239, up by 5.7 per cent from previous close.