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NSE picks 26% stake in technology vendor before giving contract

Just two months before it launched currency derivatives in August, the National Stock Exchange (NSE) picked up 26 per cent stake in Bangalore-based front-end technology provider Omnesys Technologies. What is interesting is that Omnesys is among the few vendors that subsequently got the application programming interface (API) from NSE for its currency futures segment. API is the interface platform between brokers and the exchange. NSE Deputy Managing Director Chitra Ramkrishna is also a director on the board of Omnesys, according to documents from the registrar of companies. In fact, the IT ...