)
The National Stock Exchange (NSE) and other stakeholders have sold their entire shares in high frequency trading and order management system provider Omnesys Technologies to Thomson Reuters.
High frequency trading is a form of algorithmic or automated trading which use advanced computing systems for executing multiple trades in a fraction of a second.
The move is part of Thomson Reuters’ expansion plans for the country and would complement the content and other services that it currently offers clients, according to a statement issued by the company.
“By combining Omnesys Technologies’ market-leading sell-side order management system and high frequency trading capabilities with Thomson Reuters content, analytics, quant and event driven trading infrastructure, the company now offers Indian customers a portfolio of integrated and innovative solutions for exchange traded instruments that are tailored to their market,” it said.
“The acquisition of Omnesys Technologies Pvt. Ltd. is an exciting step forward in expanding Thomson Reuters regional presence and demonstrates our ongoing commitment to the financial marketplace in India,” said Swarup Choudhury, managing director, India, Thomson Reuters in the statement.
The NSE has over 20% stake in the company, according to a source. The company did not reveal the valuations at which the deal was struck.
