Trading technology provider Orc has extended its low-latency infrastructure to the Indian arm of global broker PhillipCapital, as demand for faster market access grows in the country.
The vendor will deploy its Orc Access solutions to the PhillipCapital, India, allowing the broker to offer buy-side firms access to exchanges and other liquidity pools in India without direct membership, after national regulators signed off on the technology.
The system includes direct market access to India’s largest bourse, the National Stock Exchange (NSE), giving international clients of PhillipCapital low-latency equity and derivatives trading capabilities. It also allows the broker to set control trading limits and monitor orders sent over the system in real time to reduce risk.
“Having our products certified by the NSE for direct, non-membership, market access is a significant milestone for our expansion in India and a great testament to the attention Orc pays to the business and regulatory needs of our customers on a global basis,” said Greg Chambers, president, APAC for Orc.
Vineet Bhatnagar, managing director, PhillipCapital, India, added that both domestic and international clients would benefit from the technology.
“Apart from Orc’s speed and performance, we were impressed with the robust real-time risk management capabilities within the system. This powerful addition allows us to satisfy the low-latency trading needs of our international clients,” Bhatnagar said.