Financial Tech Unveils Odin Software

Financial Technologies (FT) (India) Pvt Ltd, the leading provider of financial software has powered the ISE Securities & Services Ltd (ISS), a subsidiary of Interconnected Stock Exchange (ISE) through its revolutionary open dealer integrated network product (ODIN) product, creating the potentially largest trading platform.

The software provided by FT has outperformed all benchmarks set for it by the ISE & the ISS. The software was able to deliver test results of 36 orders per second as against ISE's requirement of 27 orders per second. This translates to about 6,48,000 orders per day spread over a five hour daily trading session.

To deliver such a performance, against stringent ISE specifications, FT decided to leverage the capability of its existing product ODIN, which is used for the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) trading operations already sold to their clients.

The product has the ability to provide brokers with complete software infrastructure with inbuilt capacity to upgrade even on general trading network without the need for an isolated platform. It would have a direct impact on the cost structure for customers who would otherwise have to spend upward of Rs one crore for acquiring a software with similar capability. ODIN is available for about Rs 50 lakh with additional cost for complete software infrastructure.

After acquiring the said product, all that a client would need to do is to upgrade his hardware to enhance the systems capability to handle additional traffic on existing bandwidth.

The FT product has linked ISE's 13 participating stock exchanges, including ISS members, outperforming in robustness and scalibility benchmarks set for it by the concerned exchanges.

It has the potential to deliver such benchmark performance level to exchange members and broking community who are taking Net initiative in the near future.