NCDEX to adapt new trading platform in 2016

Commodities and derivatives exchange NCDEX today said it has selected MillenniumIT as its partner to scale up its trading and surveillance system for futures and forwards segments, which will be adapted by the first quarter of 2016 calendar year.
"We are now looking for a paradigm shift in bringing greater convenience and increased efficiency in our offering of integrated marketplace comprising spot, forward and futures," NCDEX Managing Director and CEO Samir Shah told reporters here.
"We believe that MIT's understanding of the world's financial markets and their technical prowess will help us capitalise on the opportunities available and equip us for the future," he said.

NCDEX is looking at adapting the technology for its trading and surveillance system for futures and forwards segments in the first phase, he added.
The NextGen system will provide a faster trading engine, giving a big advantage to market participants.
The new trading system will provide a more dynamic experience to the users with features such as tick-by-tick broadcast and ease of executing complex trading strategies like butterfly and straddles.

Additionally, it will be able to execute regulatory changes in a quick and efficient manner, which will assist in efficient intra-day closure, pre-order checks and order flow monitoring.
MillenniumIT CEO Mack Gill said, "While every market infrastructure and its requirements are unique, MillenniumIT's technology is designed to meet those requirements in a timely, efficient way. Our ability to handle any asset class across a wide breadth of financial markets companies pays tribute to this."

MillenniumIT, a leading innovative trading technology business powering over 40 financial organisations and exchanges around the world, has clients including the London Stock Exchange, Borsa Italiana, Turquoise, London Metal Exchange, Tullett Prebon, Johannesburg Stock Exchange and Singapore Exchange.